ParkLake

Type
Business expansion
Country
Romania
Region
Macroregiunea Trei; Bucureşti-Ilfov; Bucureşti
Location of affected unit(s)
Bucuresti
Sector
Wholesale / Retail
47 - Retail trade
47.7 - Retail sale of other goods, except motor vehicles and motorcycles
47.7 - Retail sale of other goods, except motor vehicles and motorcycles
3,500 jobs
Number of planned job creations
Job creation
Announcement Date
17 March 2016
Employment effect (start)
31 March 2016
Foreseen end date
30 September 2016

Description

ParkLake shopping center will open in September 2016, following a 180 million euro investment.This is a joint venture project of Portuguese retail centre developer Sonae Sierra and Irish real estate developer Caelum Development. According to official sources the construction is almost complete. Located in Titan neighbourhood in Bucharest, the shopping centre is expected to generate some 3,500 jobs.

Update, 4 July 2016: Construction of the ParkLake shopping centre is now complete. The opening is scheduled for 1 September 2016.

Sources

  • 18 March 2016: Bursa.ro
  • 17 March 2016: Wall-Street.ro
  • 17 June 2015: mediafax.ro
  • 4 July 2016: Wall Steet Romania

Citation

Eurofound (2016), ParkLake, Business expansion in Romania, factsheet number 86867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86867.