Romanian Property News

Although shopping malls are not a major city attraction anymore, Bucharest could still do with a few more large shopping areas, as the existing malls seem to be rather crowded with eager buyers. This was confirmed by a Colliers report from 2006. Starting February 2007, the British company Mivan, based in Antrim, Northern Ireland, is going to build a new shopping mall, called Liberty Centre, not around London but in the south of Bucharest. The project is costed at approximately €70million, and it spreads over 25,000sqm, with 100 shops and 700parking spaces. The mall is scheduled to open to the public in autumn 2008. 

The company declared that Liberty Centre is only the beginning of its Romanian investment plans, as it already acquired the land and is about to start building another 10 shopping malls around Romania by 2010. As declared by its Senior Property Executive, Mivan believes that this is a very good time to invest in Romania, not only in Bucharest but more so in the smaller Romanian cities like Ploiesti, Oradea, or Bacau. More information can be found on the Mivan website.

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