German group Kaufland, leader of the local retail sector, with a network comprising more than 100 hypermarkets and + 2 bln. EUR business turnover in 2015, will inaugurate its first store in the local network in the interior of a mall in Romania – Festival Shopping Center of Sibiu, an investment of Primavera Development.
Kaufland was assisted in the transaction by Crosspoint Real Estate and it comes as a strategic move for Kaufland, that holds a stand – alone boxes format network in Romania.
The German retailer leases 3.900 sqm and the future store will have a distinctive concept, to better integrate in the architecture and design format of Sibiu Festival Shopping Center.
Festival Shopping Center Sibiu will be delivered in 2018 and will account for a gross leasable area of 43.000 sqm.