Loading ...British developer Westhill will develop in Ploiesti (south-eastern Romania) the biggest extended commercial project, covering 10 ha, on an investment worth 100 million euros under partnership with investments fund Lewis Charles Securities listed with the London AIM stock exchange.The commercial center, called Magnolia Center, will have an area of 120,000 square metres.
The center will include an extended area for recreational activities, the access to each floor will be made outside the building and the moving stairs between floors will start from a small square situated in the center of the mall.
The construction of the commercial center will start next year in April and is to be finalized by the end of 2009 or the beginning of 2010.
The only commercial center in Ploiesti is Grant Centre Ploiesti, held by Winmarkt.
The construction of the commercial center will start next year in April and is to be finalized by the end of 2009 or the beginning of 2010.
The only commercial center in Ploiesti is Grant Centre Ploiesti, held by Winmarkt.
Ploiesti is one of Romania's most industrialized towns, with low unemployment rate standing between 3-5 percent, therefore attracts developers of commercial centers in search of locations with high purchasing power.
Other three commercial centers have been announced over the past year – Tiago Mall (developed by Irish company Mivan), Perla Shopping Center (on an investment of the Israeli group W-GO) and Euromall (developed by a group of companies owned by Israeli and French business people).
Other three commercial centers have been announced over the past year – Tiago Mall (developed by Irish company Mivan), Perla Shopping Center (on an investment of the Israeli group W-GO) and Euromall (developed by a group of companies owned by Israeli and French business people).
Westhill company, which entered the Romanian market last year, changed the initial strategy, which had focused on the development of office buildings, and at present it targets the construction of shopping centers and residential projects.
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