– French hypermarket chain has signed lease agreement in Galleria Arad
– Reserved, House of Art, Leonardo, Sprider and Cinema City also signed leases
– Galleria Arad to open in Q4 2011
Galleria Arad, which is scheduled to open doors in the last quarter of 2011, will offer one of the most important hypermarket chain besides variety of wellestablished national and international fashion brands.
Romania Hypermarche decided to open a 9.000 sqm Cora hypermarket in Galleria Arad as the first shop in the city.
Reserved, Sprider, Leonardo, House of Art, Fox, Cinema City, Tina R, Altex and many other brands already become a part of Galleria Arad.
Galleria Arad is already over 60% leased and GTC is in negotiations with several other important international fashion brands and also attracts the interest of local retailers.
Galleria Arad is consisting about 33,000 sqm leasable area with an investment of 70 million Euros. The project is financed by the European Bank for Reconstruction and Development
The Mall is located on the main artery of the town with a dense populated area, on Aerel Vlaicu Street. With its location, tenant mix and architectural features, Galleria Arad aims to be the main attraction of the city.
‘We are very happy to start a long term collaboration with one of the most professional and respected hypermarket chain, Cora. We are very happy to announce that we’ll move this collaboration to other projects of GTC as well. With this partnership, we believe Galleria Arad will become much stronger and we continue to introduce to Arad community more brands in a close time.’ Declared by Shimon GALON, CEO of GTC Romania.
GTC Romania entered retail market in partnership with Aura Investments for developing ‘Galleria’ international chain of shopping malls. GTC holds 85% of shares in Galleria Arad while Aura Investments holds another 15%.
The ‘Galleria’ brand is the name under which GTC develops the shopping and entertainment centers in Central and Eastern Europe and now in Romania and Bulgaria. Besides Galleria Arad, GTC Romania owns three more shopping centers under operation in Buzau, Suceava and Piatra Neamti. GTC Romania has another shopping center project in pipeline in Galati and the construction works of the project will start by next year.
GTC Romania is the subsidiary of Globe Trade Center S.A., one of the leading developers in Central and Eastern Europe, since 1994. GTC invests in three main sectors of the real estate market: shopping and entertainment centers, office buildings and residential property. GTC develops real estate projects in Poland, Hungary, Czech Republic, Romania, Serbia, Croatia, Bulgaria, Slovakia and Ukraine. The group has been listed in Warsaw Stock Exchange since April 2000.
In 2004, 2005, 2007 and 2009 GTC was declared as the best developer in Central and Estern Europe.
