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Friday | January 22 | 2021

First Class A office building in Craiova, in Electroputere Parc Mall

The new offices are part of a mixed-use building covering 12,300 square meters that has been completed this year and another similar building covering 12,700 square meters is set to be finalized in the second quarter of 2021.

The total investment in both developments amounts to 39 million euros.

With this new opening, Electroputere Parc adds 4,300 square meters of commercial spaces and 8,000 square meters of office spaces, alongside 650 new underground parking spaces for customers and employees.

The new commercial spaces are already occupied by brands like Hervis, Volvo, Pepco, Takko and Sportissimo, as well as several coffee shops and restaurants.

The Class A office building is also almost entirely leased. The main tenant, covering 60% of the gross leasable area, is HELLA, the leading automotive supplier specialized in innovative lighting systems and vehicle electronics that has 4,500 employees in Romania in total.

Electroputere Parc to upgrade in 2021

Construction works for a second tranche of the mixed-use development of Electroputere Parc are well underway, with plans to be finalized in the second quarter of 2021.

This will add another building offering 12,700 additional square meters of mixed-use spaces.

Once this second tranche is completed, the total gross leasable area of the new complex will increase to 25,000 square meters, of which 9,000 square meters for retail and entertainment and 16,000 square meters for offices.

The French real estate group Catinvest, which owns and manages Electroputere Parc, also owns and manages several other shopping centers in Romania – Carrefour Orhideea and Cora Pantelimon in Bucharest and Carrefour TOM in Constanta – as well as in Eastern Europe – Auchan Savoya Park in Budapest and Tesco Borska Pole in Plzen.

Catinvest is also active in France in residential and shopping centers activities. In total, Catinvest owns and manages more than 500,000 square meters of spaces in France and Eastern Europe.

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