The new offices are part of a mixed-use building of 12,300 square meters, and a second similar building with an area of 12,700 square meters is to be completed in the second quarter of 2021. The total investment in the two developments amount to 39 million euros.
Thus, Electroputere Parc adds 4,300 square meters of commercial space and 8,000 square meters of office space, as well as 650 underground parking spaces for customers and employees. The new commercial spaces are already rented by retailers such as Hervis, Volvo, Pepco, Takko and Sportissimo, but also by several cafes and restaurants. The Class A office building is also almost entirely rented. The main tenant that occupies 60% of the gross leasable area is HELLA, the most important car supplier specialized in lighting and electronics systems for the car industry, which has 4,500 employees in Romania.
“This extension is just another step of Catinvest’s plans for Electroputere Parc. It shows our strong commitment to develop Craiova and the region. Electroputere Parc is already a regional power zone, extremely well positioned within the city and very accessible, offering citizens access to more than 200 top brands of retail and entertainment covering a total of 90.000 square meters. The addition of the first Class A offices in Craiova will obviously bring more value to the local economy”, said Jibril Semour, General Manager of Catinvest Eastern Europe.
Construction work for the second phase of mixed-use spaces in Electroputere Parc is in an advanced stage, with plans to complete it in the second quarter of 2021. This development will add a new building that will provide 12,700 square meters of mixed space. Once this phase is completed, the gross leasable area of the new complex will increase to 25,000 square meters, of which 9,000 square meters of retail and entertainment and 16,000 square meters of offices.
“Being a private company with a long-term perspective gives us the possibility to keep investing in our projects even in difficult times. Electroputere Parc is a very important development with a lot of potential for future growth. Our investment plan for 2021 and 2022 amounts to another 58,5 million euros leading to additional retail, offices and other services such as co-working spaces and aparthotels, all contributing to the development of the region”, said Bertrand Catteau, Chairman of Catinvest Group.
The French real estate group Catinvest, which owns and manages Electroputere Parc, also has in its portfolio other shopping centers in Romania - the Carrefour Orhideea and Cora Pantelimon shopping galleries in Bucharest and Carrefour TOM in Constanța - as well as in Eastern Europe - Auchan Savoya Park in Budapest and Tesco Borska Pole in Plzen. Catinvest also operates on the residential and retail real estate market in France. In total, Catinvest owns and manages over 500,000 square meters of space in France and Eastern Europe. (sursa: economica.net)
