EnglishRED Group yesterday announced that Immorent Romania, part of Erste Group AG, has financed the first Cadran retail center, which is under development in Huşi. The project will be completed in June 2010, for an investment worth an estimated 8 million Euros. According to a press release sent to the editors, RED will launch the construction of a new type of real estate project - the network of "Cadran" proximity retail centers. Negotiations to secure funding for the construction of a second Center in Marghita are at an advanced stage.
The Cadran center of the town of Huşi will include around 20 stores anchored to Penny Market. 50% of the Center"s surface has already been leased, RED Group"s release says. The shopping mix will include fashion, clothing and footwear, health and beauty products, banking services, cleaners or medical clinics. The project has a total built area of 4,500 sqm and 120 parking spots.
The Cadran Commercial Centers will be developed in Romanian towns with an average population of 25,000 to 75,000 inhabitants, with the purpose of revitalizing these areas. The Centers will feature a retail gallery anchored to a supermarket and will feature the arched shopping area with a colonnade, the exterior plaza, the esplanade and the supermarket.
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