Argo opens largest shopping centre outside Bucharest, in Sibiu

British investment fund Argo Real Estate Opportunities Fund, which in 2006 bought the retail park developed by BelRom in Sibiu for 83 million euros, has today opened the second phase of the project, which thus becomes the largest shopping centre outside Bucharest, with a lettable area of 85,000 square metres. The new clients of the recently built 32,000 square-metre area include Carrefour, a 20-store shopping gallery, Flanco, Proges and KFC, and a Mobexpert store, which will open on December 4. These tenants join an already long list of retailers, which includes Real, Media Galaxy and Mobilia. “Annual revenues will rise from 6.7 million euros to over 10 million euros, while daily traffic will rise from 30,000 to 40,000 people,” Magnus Lofgren, managing director of the British fund told ZF.