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Avrig 35 to spend EUR 50 million outside Bucharest

Local developer Avrig 35 will put EUR 50 million into a retail park in Pitesti, to feature an Auchan hypermarket, a mall and a Bricostore do-it-yourself store. Construction works started in March this year, and the hypermarket and the Bricostore have already opened. The mall, called Iris Shopping Mall, will be delivered in spring next yea, according to DTZ Echinox, the real estate agency promoting the project. This is the biggest investment carried out by Avrig 35 outside the capital to date.

The commercial center will deliver over 7,100 sqm of leasable area in 43 stores. It will be built on a one-hectare plot and will also feature 1,500 parking places. Developer Avrig 35 has built the Charles de Gaulle Plaza office building in Bucharest, which was sold in stages to CA Immo and then to GLL Real Estate.

Avrig 35 Group

Avrig 35 Group was established in 1999 by four American investors. Since its inception the Group has grown to become one of the leading real estate developers in Romania. The company draws upon the extensive experience of its owners and employees to approach ambitious projects in different sectors of the Romanian market. Our ability to deliver exceptional services and value to our clients derives from the strength of our investment analysts and construction professionals working together towards a common goal.

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