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JLL completes first stage of Bucharest shopping centre modernisation

JLL completes first stage of Bucharest shopping centre modernisation Liberty Center, Bucharest

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.

($=0.9162 euro)