Prime Kapital and Mas Real Estate, the owners of the Era Shopping Park in Iasi, Eastern Romania, plan to invest EUR 125 million in expanding the project.
The mall, which currently has a leasable surface of 41,000 sqm, will reach 100,000 sqm after the expansion, local Ziarul Financiar reported. The project should be finalized at the end of next year.
The two investors will cover the expansion costs from their own resources, according to Prime Kapital representatives.
Prime Kapital is a real estate investment and development company founded by Martin Slabbert and Victor Semionov, two former executives of NEPI, the biggest mall owner in Romania.
Prime Kapital and Mas Real Estate also plan to develop new malls or shopping galleries in Targoviste, Pitesti, Ploiesti and Roman. They already have projects under development in Balotesti and Baia Mare.
(photo source: Era Park Iasi on Facebook)