Brits invest 400m euros in commercial space

The British company Modus Properties wants to run a project worth a total of 280 million pounds sterling (over 400 million euros), involving the construction of commercial space in NW Bucharest, in partnership with a Romanian company. The project, called Coliseum, will include about 140,000 square metres of retail space, with over 200 stores, the representatives of the British real estate developer announced. According to Modus Properties, the new complex will include a hypermarket, a Do-It-Yourself store, fashion stores, as well as sports and electrical goods outlets. “Modus has already started negotiating with prospective tenants and plans to start work on details related to the design in the second half of 2006, with construction work due to begin next spring,” the officials of the British company say. The centre will also include a cinema, restaurants, bars, coffee shops and space for leisure activities. Coliseum customers will have parking space for 6000 cars at their disposal. The developers of the project will also allocate funds for upgrades and the expansion of the transport infrastructure in the area, by building a road, and tramway lines, to facilitate access from the central area of Bucharest. ZF