November 2 (SeeNews) - Real estate developer Ceetrus Romania said on Friday it is investing 10 million euro ($11.45 milion) in the expansion of its shopping mall in Satu Mare, in Romania.
The new commercial space will be completed in the third quarter of 2019, Ceetrus said in a press release.
This second phase of the commercial project Aushopping Satu Mare consists of an extension of the existing shopping mall, adding a strip mall on an area of 9,000 sq m, including a cinema and a community hub.
The project will continue with a residential project spanning an area of 50,000 sq m.
Aushopping Satu Mare is a former hypermarket Real which Ceetrus acquired in 2016.
In Romania, Ceetrus began its activity in 2012 and currently manages nine commercial centres: Titan and Crangasi in Bucharest, the Auchan Pitesti centre and the former Real galleries from Bucharest, Craiova, Sibiu, Brasov, Bacau and Tirgu Mures.
Formerly known as Immochan, Ceetrus is the real estate division of French retailer Auchan.
($=0.8737 euro)