Belgium’s Group Liebrecht & wooD develops ’a different vision’ on Cernica Park, EUR 110 M total investment value

The Belgian investor Liebrecht & wooD Group, celebrated on Tuesday the ribbon cutting of the new A2 highway exit to Cernica Park, located 15 kilometers from Bucharest city centre, in the presence of H.E. Mr. Philippe Beke, Ambassador of Belgium to Bucharest. This is developer’s first residential project outside Belgium.

Thanks to the road’s completion, inhabitants of surrounding locations – Cernica, Fundeni and the whole Calarasi area – can now enjoy a 30 minute reduction in their travel time to the city center. In the future, the road will also guarantee a smooth access to Cernica Park – a retail scheme with a total investment value of approx. EUR 110 million.

The real estate company, operating in Romania since 2001, invested so far EUR 200 million on the domestic marlet. The 4 kilometer road has been constructed by Liebrecht & wooD Group in cooperation with the local authorities of Cernica and Fundeni part of Calarasi Cuonty, and the relevant regulatory authorities, including National Company of Motorways and National Roads (CNADNR), Bucharest Region Directorate of Roads and Bridges (DRDP), Romanian Waters National Administration (ANAR), and Water Management System (SGA).

“The road, valued at EUR 4.8 million, is a perfect example of Liebrecht & wooD’s vision on comprehensive real estate development, created with careful consideration of the environment and the users to ensure harmonious integration of all. The dedicated traffic solution constitutes the first stage of development of Cernica Park – an extraordinary place on the retail map of Romania and a significant spot on the European map of Liebrecht & wooD Group’s properties,” Patrick Van Den Bossche, Managing Director of Liebrecht & wooD Group stated in a press conference.

Cernica Park– based on a concept of a so-called ‘power center’ – will not be just a shopping center, but also a visionary, large-scale investment stimulating economic growth and creating job opportunities in the area. It has all prerequisites to become an ideal and easily accessible place for frequent shopping and recreation for residents of surrounding towns, including Bucharest and even Constan?a, serving over 3 million people within a 90 minute drive.

Cernica Park is to be developed on a 34 ha site, part of a 60 ha plot owned by Liebrecht & wooD Group, and combines a mix of retail functions, including a FASHION HOUSE Outlet Centre, a hypermarket, a traditional shopping gallery, DIY and furniture stores, a sporting goods store and many others. The Belgian real-estate developer is also in talks with the Swedish retail furniture IKEA, to open here its second store in Romania.

The project will offer a total of 88,000 sqm of retail space extendable to 100,000 sqm with over 3,500 parking places, designed with great attention to the quality of architecture, landscaping and greenery. The project is scheduled to be started up in 2016.

Attending the event, H.E. Mr. Ambassador Philippe Beke said Belgium has climbed from 21st to 12 place in Romania’s top foreign investors.

On domestic market, Liebrecht & wooD portfolio includes the first outlet centre in Romania – FASHION HOUSE Outlet Centre Bucharest- West Park, Militari district and the office complex Victoria Park in Bucharest