Raiffeisen Evolution starts works on Promeneda mall of northern Bucharest this year

Raiffeisen Evolution (RE) real estate developer, controlled by Austria’s Raiffeisen group, is due to start works on Promenada mall of northern Bucharest this year, a project announced more than four years ago.

RE owns a plot of land located between Lakeview, Nusco Tower, Oracle Tower and Floreasca Business Park office buildings on which it projected the construction of a mall with a 35,000 square metre lettable area and a 35-storey office tower (SkyTower). In early 2009, amid the crisis, construction works were put off indefinitely, after a series of foundation works had been executed.

“We’ll start works on the mall this year,” Alina Pușcașu, in charge of renting Promenada spaces, together with Krammer & Wagner consultancy, told ZF.

Northern Bucharest is currently the least congested area as regards shopping centres, with Băneasa project as the only significant development in this part of the city.

Mall developers have started bringing projects frozen during the crisis period back to life amid international retailers’ interest in expansion.