S IMMO AG starts the remodelling and expansion of Sun Plaza

Newsroom 21/06/2016 | 12:49

S IMMO AG starts the remodelling and expansion of Sun Plaza shopping centre in Bucharest. About 40 new shops will be added following this move and 75% of these have already been contracted.

The upgrading process of Sun Plaza started in the first quarter of 2016 and is expected to be completed in the first quarter of 2018. The remodelling works will bring 11,000 sq.m. of high-quality retail and leisure space for up to 40 new stores.

“Sun Plaza has gained its position as the dominant retail scheme in the Southern part of Bucharest and the remodelling will further strengthen it. The reconfiguration will bring a new vibe in our retail mix adding more brands, trading up the centre and gaining further fashion competence”, said Friedrich Wachernig, member of S IMMO AG’s Management Board.

The reconfiguration process is divided in phases, on a period of 24 months. This will help the business continuity for the existing retailers and ensure that the quality of the shopping experience in the existing part of the centre is maintained.

Among the new tenants are world-renowned brands entering the market, including American fashion retailer Forever 21, which continues its expansion plan and will open one of its largest Romanian stores in Sun Plaza.

“We are very excited that Forever 21 will be part of the remodelling of Sun Plaza, with one of its largest stores in Romania. More brands will be joining the scheme and we look forward to announcing more novelties and national premieres soon.”, added Vicentiu Spataru, Shopping Centre Manager of Sun Plaza.

S IMMO AG invests in commercial and residential properties in Austria and Germany as well as Central and Southeastern Europe. S IMMO AG’s strategic core shareholders are Erste Group and Vienna Insurance Group.

Georgiana Bendre

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