Cora Romania's soon to open Corall shopping center sees investment down to half from initial announcement

French retailer Cora will open a shopping center in Romania’s coastal city Constanta on July 25 this year, following an investment of EUR 58 million. The new shopping center will host the 11th Cora hypermarket in Romania. Back in 2011, the developers announced that the project would include an 8,500 sqm hypermarket, a 25,000 sqm shopping galleria, a cinema and a food court area, under an investment of EUR 100 million. According to the information provided by CBRE in March this year, the site will also host some 50 shops and the available space is 80 percent leased. Some of confirmed tenants for the shopping center include Takko, CCC, Jolidon, Casa Rusu, Altex, Zoomania, Maxbet, Helpnet, Arsis, Germanos, Orange. The new center, which was announced in 2011, will be called Corall and work on the project started in the spring of 2012. Cora has similar projects lined up for Brasov and Bacau, with similar investment values. In November 2012, Cora opened its fourth hypermarket in Bucharest, on Soseaua Alexandriei, in the south west region of the city. The retailer invested some EUR 47 million in this new store, which covers 53,000 sqm. The French retailer plans to open another hypermarket in Romania this year, in the shopping center developed in Ploiesti by the real estate development and investment company AFI Europe. Irina Popescu, irina.popescu@romania-insider.com