Element Development, a local real estate developer owned by Romanian investor Ionut Dumitrescu, will open a new shopping center in the city of Bistrita, in Northern Romania, in May.

The new mall is called Bistrita Retail Park and will include retailers such as Carrefour Market, JYSK, Help Net, Lems, Decathlon, Dinoland, Metropolis, Noodle Pack and Salad Box.

The commercial gallery has a surface of 7,850 sqm of leasable space and required an investment of EUR 9 million, half of which came from Garanti Bank. Real estate consultancy firm CRBE Romania manages the leasing process.

Ionut Dumitrescu if the former owner of real estate consultancy firm Eurisko, which he sold to CB Richard Ellis in February 2008. After this deal, he specialized in real estate development.

editor@romania-insider.com