Austrian real estate developer Real4You Group has leased 20 percent of the future MegaMall shopping center in Bucharest, that will be built on the site the former Electroaparataj plant. The developers recently received the zoning approval (PUZ) for the 70,000 sqm retail project. Construction work should start in the second half of 2012.

The recently signed tenants are located on the first underground level of MegaMall, occupying approximately 20 percent of the leasing surface of the shopping center. The real estate consulting companies Colliers and DTZ Echinox are co-exclusive leasing agents for the four MegaMall projects in Romania.

MegaMall Bucharest is a 70,000 sqm mall to be developed at the junction of Iancului and Pantelimon boulevards, on the former industrial platform Electroaparataj.

Real4You Group will also develop several shopping centers throughout Romania, in cities such as Satu Mare, Focsani and Targu Mures, branded as Mega Mall. The out-of-town shopping centers will have between 18,000 sqm and 22,000 sqm each and will be anchored by a hypermarket or supermarket.

Real4You Group is an investment company in the real estate sector that was established in 1995 in Austria by Christian Rimpf and Klaus Riederer. In Romania, Real4You Group has built 21 MiniMax stores and three retail parks.

Corina Saceanu, corina@romania-insider.com

(photo source: The company)