November 4 (SeeNews) - Polish retail properties developer Scallier said on Friday it has started the construction of an 8,500 sq m gross letable area (GLA) retail park near Romania's western city of Timisoara.
The delivery of the Mosnita retail park is planned for the third quarter of 2023, Scallier said in a press release.
The retail park in Mosnita will be the company's fifth such facility opened in Romania, adding to its portfolio of retail parks opened in Rosiorii de Vede, Focsani, Timisoara and Turda.
The park will also have a parking with 200 spaces, according to company representatives. Some 50% of the park's capacity has already been leased.
"Romania remains one of the most attractive markets for retail real estate investors. The growing purchasing power of Romanian citizens, their growing requirements as to the offer, the lack of modern commercial real estate in medium and smaller Romanian cities in many cases are only selected determinants of the success of smaller commercial facilities, which are also driven by the consistently high interest from international and local tenants," Scallier managing partner and responsible for the company's development
on the Romanian market Wojciech Jurga said.
Founded in 2011, Scallier is specialised in investment management in the sector of retail parks, strip malls, regional galleries, arcades and free-standing commercial facilities.