Mitiska REIM opens new retail park development in Romania

Mitiska REIM opens new retail park development in Romania

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced on behalf of First Retail International 2 NV the opening of a new retail park development in the city of Giurgiu, located in southern Romania on the banks of the Danube.

This new retail park has been developed in partnership with Mitiska REIM’s local partner, Square 7 Properties, and has a gross leasable area (GLA) of 7,046m2, with parking for 246 cars. The site is conveniently located in a popular residential area 1.5km from the city center and features a range of national and international brands.

Food-anchored by a Lidl supermarket, the retail park is comprised of 12 units, with tenants including KIK, New Yorker, Sinsay, Superzoo and a KFC restaurant, and has been designed to achieve a “Very Good” score on the BREEAM scale.

In Romania, Mitiska REIM manages one of the largest retail real estate portfolios in the country, encompassing 25 retail parks with a gross leasable area of 134,000m2, which generates a daily footfall in excess of 150,000 shoppers and a sales turnover that exceeds pre-COVID levels. The portfolio has been awarded “Very Good” BREEAM certifications and Mitiska REIM plans to open an additional retail park in the city of Pitesti this year.

Tomas Cifra, Mitiska REIM’s Managing Director for Romania, Czech Republic and Slovakia, comments: “The Romanian market remains a significant opportunity for modern, sustainable and conveniently located retail parks due to the lack of supply and the long-standing positive socio-economic trends.

“This latest retail park brings new retail infrastructure to the city of Giurgiu and joins a portfolio which has proven very attractive to both retail brands and shoppers alike.”