New EUR 117 million Obor Market to be opened in October
The first floor of the building will host 48 stores for food products – meat, fish, dairy products. The second floor will feature stores with household goods – other 48 units.
The project was developed by a company called Piata Obor Market & Complex Comercial, owned by Practic SA, Baneasa Investments, Comnord and Procema companies. The developer has obtained a 49-year concession over four hectares of land in the Obor Market area, where it has built the EUR 117 million project.
The company will pay a EUR 1 million fee to the Sector 2 city hall every year. The city hall will thus recover the cost of land in 12 years, according to the developers. The royalties paid by the developers as part of the PPP contract will amount to EUR 45 million.
Corina Saceanu (corina@romania-insider.com)