Saturday, October 06, 2007

CHECKING IN....

First, I'm going to have an "Ikea-free post" for Mike (you know who you are!) ....oh, but by saying it, I violate it. A vicious cycle. Inside joke. Anyway..... we're in Bucharest as it is exploding into a major world city. Everywhere they are building and currently there are at least 8 major malls being built or planned. The "mother of all malls" is in the article below. Titan is the "next neighborhood over" from us. We live in Vitan (no relation). Count them ....600 stores. Unbelievable.



Caelum to build Bucharest's biggest mall in Titan
http://www.zf.ro/articol_143258/cael..._in_titan.html

Caelum Developments, a company controlled by several Irish businessmen, will invest around 600 million euros to build a shopping complex and two apartment blocks in the Titan district, which will be the company's first investment in Romania.

"Seeing the benefits generated by Poland's accession to the European Union, a country where we have had a presence since 2003, we believe Romania will take the same route, which is the main reason why we decided to enter this market. We have been working on the Titan project for nine months and will have all the necessary permits to start construction works early next year," David Sharkey, the main shareholder of the company told ZIARUL FINANCIAR.

Parklake Plaza, the name of the mall in this project, will be the biggest shopping complex in Bucharest, with 110,000 square metres of lettable space and around 600 stores. The investment in this complex is estimated to be worth 500 million euros. The future tenants of Parklake Plaza will include the Real hypermarket chain, which will rent 12,700 square metres and the Cinema City operator, which will take up 4,000 square metres.

1 comment:

Mike & Kris York said...

Hey Todd,

Knew you couldn't go a week without mentioning Ikea!!
There is a crazy rash of building all over the city!! Be Safe!

Mike