Romanian do-it-yourself retailer Dedeman is negotiating the acquisition of Bistrita Retail Park, a 7.850 sqm shopping gallery in Bistrita, for which it will pay an estimated EUR 10-15 million, according to Economica.net.

Local real estate development company Element Development, owned by Ionut Dumitrescu, completed Bistrita Retail Park in May 2018 after an investment of EUR 9 million. Located in downtown Bistrita, the new shopping gallery has tenants such as Carrefour Market, Decathlon și Sportisimo, JYSK, Lem’s, and Top Shop.

Dedeman, controlled by Dragos and Adrian Paval, is the biggest entrepreneurial business in Romania. The group has been diversifying its operations in recent years with significant investments in office projects and listed energy companies.

In June this year, Dedeman Group and Element Industrial have entered into a partnership to jointly develop the ELI PARK 1 logistic and industrial project in northwest of Bucharest. The project will total 50,000 sqm, with the first phase, comprising 20,000 sqm, scheduled to be delivered this summer. 

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(Photo source: Facebook/Bistrita Retail Park)