Popoviciu invests another 20m euros to complete Oradea mall

Businessman Gabriel Popoviciu, who three months ago won the auction for the acquisition of Tiago mall of Oradea, undergoing bankruptcy proceedings, through Shopping Center Holding, is set to invest 20m euros to finish the project next spring.

“We’ve managed in one month to reach the final stage as regards talks with retailers to fill around 60% of the available space. We’ve also made several moves and will attract tenants for the rest of the space in the coming period. We’ll bet on the entertainment segment, which has around 10,000 square metres earmarked in the mall,” Cristina Dinu, Shopping Center Holding manager, told ZF.
In Oradea, the new owner’s first move was to rebrand the mall taken over in the wake of a deal valued at 30.5m euros, with the former name, Tiago Mall, being replaced with Oradea Shopping City, a model similar with that of the Băneasa shopping centre, also owned by Popoviciu.
The shopping centre due to be opened in early 2011, with a 30,000-sqm gross lettable area, will have over 120 footwear, apparel, accessories and décor stores, a food-court area and an entertainment one.