May 27 (SeeNews) – Romanian real estate developer Urbano Group will invest over 100 million euro ($108.6 million) to develop a shopping centre in the northwestern city of Cluj-Napoca, said project partner Nhood Romania.
Urbano Shopping & Living will be the largest shopping park in Romania’s central-western geographical region of Transylvania, spanning an area of 27 ha, Nhood said in a press release last week.
The shopping centre will be developed in two stages and is set to be completed in 2026. It will host a cash & carry hypermarket, a supermarket, as well as drive-in restaurants, among other commercial units.
“The project is part of a new series of investments, with a long-term vision, that we are carrying out in the Cluj metropolitan area. We aim to create a new destination of integrated functions and we are confident that together with an experienced partner like Nhood we will provide the community with a project that meets its needs,” said Ciprian Comsulea, executive manager at Urbano Group.
Nhood was chosen by Urbano Group as the exclusive partner for commercializing the project. Established in 2021, Nhood is a real estate services company with a team of more than 1,000 experts in property and asset management, operating in eleven countries.
Urbano Group is a real estate developer focused on the logistics, industrial, residential, and commercial markets in the Cluj metropolitan area.
($=0.9209 euro)