BUCHAREST (Romania), October 2 (SeeNews) - Real estate consulting company JLL said on Wednesday that it has completed the first phase of the modernisation of Liberty Center shopping center in Bucharest following a 400,000 euro ($436,581) investment.
The project included the launch of the largest Auchan supermarket in Romania on an area of 3,600 sq m, JLL said in a press release.
Occupancy rate at Liberty Center, based on signed contracts, has reached 91%, it added.
"We estimate that the mall will register a 30% growth in traffic, reaching 13,000-14,000 visitors per day, mainly due to the Auchan opening and to other changes in the center. From the point of view of occupancy, our expectations are to reach 95% by the end of the year," JLL Romania manager Corina Stamate said, as quoted in the statement.
Located in the southern area of Bucharest, Liberty Center has been administrated by JLL since 2017 . The shopping center has an area of 25,700 sq m, and over 60 tenants.
JLL is specialised in professional and investment management services in real estate. With a global annual revenue of $6.7 billion, it has 300 branches in 80 countries and employs 80,000.