Jupiter Group builds 42m-euro shopping centre in Pitesti

Real estate developer Jupiter Group, present on the local market since 2006, will complete its first major project on the local market in June this year – a 40,000 square-metre shopping centre in Pitesti, Jupiter City, with the main anchors to be Carrefour, Praktiker, Mobexpert and Media Galaxy. “The project will be developed on a 17-hectare plot, and will entail a second stage, which will be completed in November this year. For the first development stage, we estimate an annual return on investments of 12%,” Amnon Vardi, manager of the Jupiter Group, told ZF. The investment in the first stage of development amounts to 42 million euros, while the second stage, which will entail the expansion of the shopping gallery by 10,000 square metres, will require investments worth 8.5 million euros. This is the third shopping centre to open in Pitesti, a city that also houses a Euromall shopping centre and a retail park, Iris Shopping Mall, with retailers such as Auchan and Bricostore as tenants.