Colosseum Mall, new investment of EUR 30 M in northwestern Bucharest
Colosseum Retail Park announced the construction of Colosseum Mall project and the expansion of the existing retail scheme with a new concept in the northwestern area of Bucharest.
With an investment of EUR 30 million planned for this stage of the business development, Colosseum Mall will combine both commercial and office use. The 16,500 square meters of new GLA as an extension of existing retail development, Colosseum Mall will include local and international fashion brands, fast food and dining restaurants, fitness centre, play areas for children, casino, lounge bar as well as an ultra-modern 7-screen multiplex cinema. More than 75% of the GLA is under advanced discussion, showing the strong demand for retail in N.W. Bucharest.
The construction of Colosseum Mall will start later this year and the inauguration will take place in the first half of 2019.
“We are going through a more mature retail market and the development of Colosseum Retail Park is taking place due to the good results achieved in the recent years and, at the same time, because of the increasing demand for commercial spaces in this area of the capital. Our project enjoys the support of both retailers and clients. Our goal is to strengthen and reaffirm the strategic position that Colosseum Retail Park currently has, being the main commercial destination in North-West Bucharest”, said Mihai Dinu, Center Manager Colosseum Retail Park.
“Colosseum Mall will be opened in the first half of 2019, bringing a new modern retail concept into the sophisticated Bucharest market. We aim to provide our visitors excellent experiences in leisure including fast foods and restaurants, and fashion provided by the most reputable operators in the market, today. We have received positive answers from the largest fashion and leisure retailers. The Romanian multiplex cinema operator, “Happy Cinema”, and “World Class”, the biggest fitness operator in Romania, will complete the leisure component of the mall. We will announce shortly all our partners in this exciting new and modern project.” added Doinita Ilie, MRICS, Leasing Retail Manager JLL Romania.
At the same time, the project will comprise a 1,500 sqm area dedicated for A class offices, which will target mainly healthcare providers.
Because of the expansion plan, the outdoor parking will be enlarged by 750 additional parking spaces for customers including dedicated areas for people with disabilities, employees, commercial operators, and electric car charging. The total number of car parking will be 2,760 places.
This new project aims to ensure a high level of comfort for its customers and to provide a sustainable water use system, as well as an optimal energy management. In this regard, Colosseum Mall will be developed mainly on a single level, except for the cinema and the fitness complex which will be located above a large food court.
The food court is a major focus of Colosseum Mall and will provide a diverse area for all ages. Outside, there will be an outdoor plaza able to accommodate food markets, outdoor events, concerts, and many other attractions. Colosseum Mall aims to become a hub for the local community, for North West Bucharest and for the surrounding areas.
Colosseum Mall is part of a more extended business plan designed for the following years which will include commercial, office and residential developments. With the new development, Colosseum Centre will reach 54,500 sqm GLA.
Last year, Colosseum Retail Park successfully added in its portfolio: Sport Vision, the largest shop from Romania (900 sqm), LCWaikiki (1,300 sqm) and Pepco (450 sqm), reaching 100% occupancy rate.
With the developments and the results obtained over the past two years, the traffic has increased by 15%, reaching almost 5 million visitors annually.