CBRE Romania was named lease agent for ParkLake Plaza, a commercial center underway in the eastern part of Bucharest by Sonae Sierra and Caelum Development. Excavation at the site started in January. ParkLake, an investment of €180m, is scheduled to open in 2016. It will include 200 shops and 2,600 underground parking spaces. The plot of land on which the project is being built was purchased in 2007 for €53m. The project was delayed because of a dispute over the suitability of the land – once a sports facility – for retail development.
