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BUCHAREST (Romania), June 13 (SeeNews) - French real estate group Catinvest said on Thursday it has finalised the first expansion phase of TOM Constanta shopping mall following a 3 million euro ($3.4 million) investment.
The 3,500 sq m expansion phase is part of the company’s strategy to strengthen its position in the southeast of Romania, it said in a press release.
As part of its strategic plans to continue TOM Constanta’s expansion in the following years, the French real estate group recently acquired a 2.5 ha land plot which will ensure a further increase the gross leasable area (GLA) of the commercial center by 40,000 sq m of retail and offices spaces, Catinvest said.
TOM commercial center opened in 2006, with a total GLA of 48,000 sq m.
After the first phase of its expansion, its total GLA reached 51,500 sqm. With over 85 stores and 100% occupancy rate, TOM Constanta is attracting approximately 5.5 million visitors per year.
Catinvest Eastern Europe is part of the French real estate group Catinvest and is headquartered in Bucharest. It owns and operates six commercial centres in Romania, Hungary and the Czech Republic, with a total leasable area of more than 275,000 square meters.
Catinvest Eastern Europe entered on the Romanian market in 2003 and is the owner of Espalanda and Orhideea commercial centers from Bucharest, Tom in Constanta and Electroputere Parc in Craiova. In total, Catinvest owns and manages more than 500,000 sq m in France and Eastern Europe.