Crevedia Retail Park, one of the largest strip malls in Romania, with a total leasable area of ​​11,400 sqm, opened on the Bucharest-Târgoviște road close to Bucharest on Monday, January 27. The total investment, by REPACO Capital and its partner Weststar Real Estate, amounts to EUR 15 million, partly co-financed by Banca Transilvania through an investment loan.

Developer REPACO Capital expects "tens of thousands of visitors per month" throughout 2025, according to the press release.

The entire 11,400 sqm rentable area was contracted by 18 Romanian and international retailers, including Annabella, CCC, Deichmann, DM, Dr Max, Fressnapf, KiK, JYSK, New Yorker, Sinsay, Pepco, TEDi, and others. The retail park also has 33 parking spaces available.

Started on March 1, 2024, the construction and development of Crevedia Retail Park was completed in about nine months from the start of construction, respectively 11 months from receiving the construction permit, and currently provides over 250 jobs.

"The premise from which we started the Crevedia Retail Park project – that there are still smaller towns than large cities, in several areas of Romania, where the need for modern shopping centers is not covered – has proven to be well-founded. Retailers' interest was evident even before the foundation of the shopping center was poured, by leasing 100% of the available space, and I am convinced that buyers' interest will be just as great," said Liviu Arnăutu, partner and board member of GELD Capital Management, the holding company of REPACO Capital.

"Our investments will not stop here, and in 2025 we will announce the completion of similar projects, currently in various phases of implementation," he added.

Crevedia Retail Park is the largest real estate development project to date involving REPACO Capital, a company owned by GELD Capital Management, and Muntenia Engineering & Construction, in partnership with Weststar Real Estate, one of the real estate investment companies of International Alexander Holding (IAH), owned by the Apreutese family. The consultancy for the project was provided by CEE Estate. 

The Apreutese family also completed the construction phase of the class A logistics warehouses in Arad and Timișoara. Recently, the company also started a residential project of 6 blocks – Britwood 144 - in northern Bucharest. 

REPACO Capital is currently developing other real estate development projects for retail parks: two under construction, in Curtea de Argeș (6,100 sqm) and Breaza (3,100 sqm), and two others in the authorization process, in Timișoara (4,500 sqm) and Brașov (5,500 sqm).

irina.marica@romania-insider.com

(Photo source: the company)