Proximity mall in Bucharest undergoes EUR 10 million expansion

Veranda Mall, the commercial center developed by the Pogonaru family, has entered a EUR 10 million expansion process aimed at widening its entertainment offer. The mall will expand by over 6,000 sqm of new spaces. As such, it will have among its tenants a World Class Romania unit, the main branch of BCR in the capital’s District 2, and a multiplex cinema with 10 screening halls. Following the expansion, the restaurant and entertainment spaces will make up 22% of the commercial center’s total surface, up 12%. Other sports and fashion brands are expected to join the tenant mix. At the same time, the mall has a new director. He is Valentin Dobrescu, a former general manager of Pepco Romania and a property and investment director at Pepco CEE. He also worked as a property director with the Real hypermarket. The current occupancy rate of Veranda Mall stands at 96% of its leasable space. “Since the very beginning, establishing the right tenant mix was a key point in getting closer to the Veranda community but also a central element of its positioning as a proximity mall. Veranda will be able to be called a proximity center but also a lifestyle one,” the new director of Veranda Mall explained. Veranda Mall opened in 2016. It is located near the Obor farmers market, one of the busiest areas in Bucharest. The mall has a total surface of 30,000 sqm and a green area of 15,000 sqm. The mall was developed on the site of the former Prodplast plastics factory, owned by the Pogonaru family. Romania’s first VR cinema opens in Bucharest mall editor@romania-insider.com