The Austrian investment fund Immofinanz, the largest investor on the Romanian real estate market, plans to transform the commercial center Armonia Arad into logistics center or industrial park.
The company said it based its decision on the region’s good economic situation and Armonia Arad’s great location, which is situated along the E68 motorway, connecting Szeged, Hungary to Brasov, Romania. This prime location has made Armonia Arad an attractive spot for customers, according to Idl Wolfgang, the retail asset management coordinator at real estate investor and developer Immofinanz.
The change is scheduled to be completed in 2013, without any major investment. Armonia Arad was opened in May 2008 and includes a Carrefour hypermarket, a DIY Bricostore unit as well as a shopping gallery with about 80 stores. Carrefour said it plans to leave Armonia Arad in August and is now looking for a new location in town.
