Sales up 10% for retailers in Bucharest's AFI Palace Cotroceni mall, expansion plans

The retails in the AFI Palace Cotroceni shopping mall saw their sales up 10 percent in the first six months of 2014, and for the whole year, their sales should be up 5 percent, to some EUR 215 million, according to the mall owner, quoted by Mediafax. The sales do not include that of the Auchan hypermarket, which have been weak, as the new owner chose to focus on its own network, rather than on the stores taken over from Real. But the mall owners believe the hypermarket’s sales will soon be above the levels prior to the takeover. Last year, the retailers in the mall made EUR 204.4 million in sales, up 4.3 percent year-on-year. The mall owners, AFI Europe, is seeking for solutions to expand the shopping mall. For example, the Reserved shop will be relocated to a 1,500 sqm space, on two floors, and another brand from the same retailer, Mohito, will take the space previously occupied by Reserved. All these changes will be ready next year, when, after expanding the shopping mall, it will have 90,000 sqm in leasable area, up from the current 81,000 sqm. AFI Palace Cotroceni was worth some EUR 375 million in September 2013. editor@romania-insider.com