Immochan is considering adding three more shopping malls to the Romanian market in investments that could reach €300m, according to Economica.ro. The French real estate developer is eying three development properties in Bucharest, Sibiu and Craiova, with the CEO of Immochan Romania, Tatian Diaconu, saying these cities still had “room” for such projects. In addition to shopping centers, the schemes will also offer residential and office buildings. The developer has already tested this mixed-used concept on the Romanian market at its Coresi project in Brasov, which is going up on the former Tractorul factory site. Immochan completed a 45,000 sqm shopping center on the property in 2015 and is now working with a local partner to develop 3,000 flats. The first 570 flats should be delivered next year. The developer operates 23 shopping centers on the Romanian market, totaling 150,000 sqm of retail space. It plans to invest €10m in 2017 to modernize five of its commercial centers.
