Colosseum Centre, located in North-West Bucharest, has secured with Credit Europe Bank the funding required to develop the current stage of expansion, that is the shopping mall, with fashion, leisure and food brands. JLL România has advised the developer in obtaining the funding.
The loan from Credit Europe Bank worth EUR 23 Million, while the total investment in the shopping mall will reach EUR 30 Million.
“Our project enters now the final straight to completion. We are glad to have beside us partners such us Credit Europe Bank and JLL Romania, which allows the fulfillment of our business goals”, said Mihai Dinu, General Manager of Colosseum Mall.
“We are committed to supporting retail development and to be part of this project that will boost the retail offer in the North-West area of Bucharest, creating diverse opportunities for the residents of the area and around the vicinity. For us at Credit Europe Bank Romania, providing finance for retail developments contributes to the socio-economic wellbeing of the community and responds to the large market potential of Bucharest which continues to attract construction investments”, declared Yakup Çil, CEO of Credit Europe Bank Romania.
As a result of the current expansion, Colosseum centre will have in total 54,500 sqm GLA of retail space, becoming the largest in North-West Bucharest and second largest retail scheme in the 1st Sector.
The leasing progress is well advanced with over 80% of the retail units now signed or committed to tenants. These new tenants include CCC, New Yorker, Colin’s, Diverta, Noriel, DM Drogerie Markt, Happy Cinema, World Class, Gregory’s, Café Ritazza, and many others to be announced.
They will be joining the already present retailers in the centre that has been open since 2011, such as: Carrefour hypermarket, Leroy Merlin DIY, Altex, JYSK, LC Waikiki, Sport Vision, Pepco and many others.
The expansion works of the shopping mall began in December 2018 and will be ready for opening in 2020.
Following the expansion, Colosseum centre will become a representative modern urban destination for the community, where visitors will have the opportunity to get fun and relax with family and friends.
More about Colosseum
Located in the Bucharest’s 1st district, North-West area of the capital, on Chitilei Road, no. 284, Colosseum offers a unique retail concept that includes a large variety of retail stores and fashion brands as well as unique leisure facilities. Colosseum enjoys a privileged position due to its proximity to the Bucharest ring road with two-ways access for those who daily enter and leave Bucharest from Ploiesti, Târgovişte and Piteşti. Colosseum is also accessible from multi-lane boulevards such as Bucurestii Noi, Grivita, Chitilei Street and Ion Mihalache. Colosseum also has good public transport links via RATB lines 112, 422, the tram 45, and the newly opened Străuleşti multi-modal subway station, as well as two Carrefour minibus lines with connection points to Chibrit Square and Chitila town. Among the largest retailers of Colosseum are: Carrefour, Leroy Merlin, Altex, Jysk, LC Waikiki, Sport Vision and Pepco. For leisure, Colosseum hosts “Basme cu Cai”, a summer shows Arena and horse-riding club, as well as a Karate club.
More about Credit Europe Bank
In Romania, Credit Europe Bank provides a large number of products and services for individuals, SMEs and corporations, through a network consisting of 46 branches, agencies and working points. In 2018, Credit Europe Bank (Romania) SA celebrated 25 years of existence on the local market. The CardAvantaj credit card is one of the most representative products of the bank due to its benefits introduced for the first time at its launching to the local cards market. Member of the Credit Europe Bank NV Dutch financial group, the bank has been active since 1993, when it operated under the name Commercial and Industrial Credit Bank, subsequently becoming Finansbank (2000) and then, in 2007, following a rebranding process, receiving the Credit Europe Bank Romania naming. Further information about the bank's products and services is available at www.crediteurope.ro and www.cardavantaj.ro