Atrium Centers: new 61 million Euro investment in Satu Mare
Dawnay, Day PanTerra, through Atrium Centers, have finalized on the 28th of June the acquisition of a land of approximately 2.7 hectares in Satu Mare. The total estimated project cost is forcast to be 61 million Euro. This represents the fourth commercial and entertainment center to be developed by Atrium Centers, after the on going projects in Cluj, Arad and Baia Mare.
Atrium Center Satu Mare will be the first modern commercial and entertainment center in Satu Mare, with a lettable area of approximately 30,000 sq.m, 900 parking places, over 135 shops, hypermarket, 8-10 halls multiplex cinema, coffee shops, restaurants, fitness center and kids playground. The new center will be located at the crossroad between Henri Coanda Boulevard and Corvinilor Street, at the very center of the city, with an excellent visibility and a very good accessibility both by public transportation and by car.
„We decided to invest in Satu Mare because we believe in the city’s strategic position, in the North – Western part of the country, close to Ukraine and Hungary. Satu Mare is the 4th largest city of the region, and has great growth potential. It is a market that offers many opportunities due to the fact that it hasn’t developed yet any modern commercial and entertainment center and that the retail industry is in its’ early beginning”, stated Adina Calinescu, Country Manager Atrium Centers.
The British investment and financial services group, Dawnay, Day, announced in May its official launching on the Romanian property market by developing shopping and entertainment centers in Arad, Cluj and Baia Mare under Atrium Centers’ name. The total value of the company’s projected investment reaches today 246 million Euros, while the total investment plan in Romania for the following years is close to 900 million Euros.
Atrium Center Satu Mare project will be implemented with the support of DTZ Echinox as its exclusive leasing agent.
Dawnay, Day PanTerra Limited is part of the Dawnay, Day Group which has over 20 years of property investment experience and manages a diversified commercial property portfolio in Europe including Germany, the Czech Republic, Hungary, Poland, Ukraine, the Baltic States and India. Dawnay Day’s principals and staff have developed considerable expertise in active property management, financing, investment, transactions and portfolio construction.
Dawnay, Day PanTerra Limited’s principal objective is to identify acquisition targets and manage transactions and portfolios within these territories. Dawnay, Day PanTerra Limited has gained extensive local and regional knowledge due to its activities in the Central & Eastern European property markets and has an established local presence.
Building permit issued for Atrium Center Cluj
Less than a month ago, the building permit for the construction of Atrium Center Cluj was issued by the local authorities and demolition works have started immediately, with Apolodor S.R.L. as appointed contractor. The new center will be located on the 21 Decembrie 1989 Boulevard, on the former industrial complex Tricotage Somesul site.
Atrium Center’s construction as a modern multifunctional complex comes as a support for the town’s old center rehabilitation program. „Atrium Center’s concept is based on public benefits, by the junction of three different functions: commercial center, hotel and office building. From volumetric point of view, the unique dynamics of the composition comes from high vertical accents and transparent horizontal lines applied on the top of the shopping platform.”, stated Mr. Claudiu Botea, architect to Arhimar Romania, the company in charge with architectural design for Atrium Centers.
Regarding the tenants’ partnership, Mrs. Adina Calinescu, Country Manager Atrium Centers, stated: „Ever since we entered the Romanian market, we have received positive feedback from local and international retails. We aim to bring the best tenant mix on the market in Atrium Center Cluj, and a special anchor is represented by Cinema City, the operator of the 8 cinema rooms that we are going to have, with whom we have just signed an agreement”.
With an investment of approximately 85 million Euro, Atrium Center Cluj is one of the largest real estate projects in Cluj – a mixed use development containing 31,500 sq m gla of modern shopping and entertainment center, an A class office building having approximately 10,000 sq m gla and a four-star hotel of 180 rooms, as well as 900 parking places. The total building area reaches 96,000 sq m.
Atrium Centers announced in May its official launching on the Romanian property market by developing shopping and entertainment centers in Arad, Cluj and Baia Mare. Recently, the company’s representatives have announced the acquisition of the fourth land in Satu Mare, so that the total value of the company’s projected investment reaches today 246 million Euros. Atrium Centers has planned 5-7 acquisitions by the end of 2007 in major Romanian cities of over 100,000 inhabitants.
The leasing activities for Atrium Center Cluj are coordinated by Cushman&Wakefield Activ Consulting, which is also exclusive leasing agent for Atrium Center Baia Mare.
Atrium Centers is a new brand of the British investment and financial services group Dawnay, Day, aiming to develop a chain of new generation shopping and entertainment centers in Romania and later in the rest of Central and Eastern Europe.
S.C. APOLODOR Comimpex LTD is a company with private capital, specialized in construction works, earth works, excavations, specialized infrastructure and demolition works.