Mitiska REIM opens new retail park in Pitești

Business Forum

14 October, 2024 at 8:56 AM

Mitiska REIM has announced the opening of a new retail park in Pitești, the first of four new retail projects that the investor plans to open in Romania in the next two years.

The new Pitești Shopping Park is food-anchored by a 5,000 sqm owner-occupied Kaufland supermarket and features 15 units with a gross leasable area of 17,285 sqm, with parking for 392 cars and 12 EV charging stations.

The project is developed on behalf of the FRI 2 fund and in partnership with Square 7 Properties, with funding from Erste Group. The retail park features solar panels on the roof area and targets the “Outstanding” BREEAM certification.

“This latest retail park continues our investment program in Romania to meet the increasing demand for convenient, modern and sustainable retail infrastructure from retailers, shoppers and investors,” says Tomas Cifra, Mitiska REIM's Managing Director for Romania, Czech Republic, Slovakia and Bulgaria.

Cifra added that the company has a strong pipeline of further investment opportunities in the Romanian market, spanning retail parks, multi-let light industrial and urban logistics projects.

Bucharest office market sees lower demand over tech slowdown

Total demand for office leasing in Bucharest dropped by 25% to 236,000 sqm in Q3 compared to the same period of 2023, while new demand fell 11% to 82,000 sqm in the same interval due to the slowdown of the IT&C sector, according to a Colliers report. 

Real estate

Hils Development makes large land purchase in western Bucharest

Hils Development, the real estate group owned by Romanian entrepreneur Ionuț Negoiță, has purchased two land plots spanning 12 ha in western Bucharest. 

Real estate

Deichmann leases 20,000 sqm in ELI Park Bucharest

Shoe retailer Deichmann has leased 20,000 sqm in the industrial project ELI Park Bucharest, in a move designed to consolidate its regional distribution operations.

Real estate

NEPI Rockcastle concludes expansion of Shopping City Ploiești

NEPI Rockcastle has completed the expansion works for the Shopping City Ploiești project. 

Real estate

iO Partners adds proptech service to its portfolio

iO Partners, a JLL Preferred Partner, has teamed up with Bright Spaces proptech to provide its clients with a 3D space planning tool. 

Real estate

Iulius kicks off €40 million mall expansion in Suceava

Romanian developer Iulius is investing €40 million in the expansion of Iulius Mall Suceava that will increase the leasable area of the project to 60,000 sqm.

Real estate

Romania's retail market heads for 5 million sqm by 2026

Romania's retail stock expanded by around 106,000 sqm during H1 2026, with another 205,000 sqm under development that could help the country reach the 5 million sqm milestone at the end of 2026, according to a Colliers report. 