La Strada Street Mall Concept, the developer of one of the first strip mall-type projects in Romania, has announced the construction of two new commercial centres which are due to be delivered before the end of this year, in Brasov and Militari neighborhood of Bucharest.
The first project by La Strada in Romania was inaugurated in December 2016 in Popesti Leordeni, after an investment of around EUR 5 million.
La Strada Street Mall Concept Brasov will be delivered in Q2 2018, and La Strada Street Mall Concept Militari will be completed in Q4, according to the development plan. The investment in these projects goes up to EUR 10 million.
“The La Strada Street Mall concept brings novelty to modern retail and it was born as a result of the dynamic real estate market in Romania, which is continuously developing and changing. If large commercial centres were the most popular in Romania until now and used to attract massive investments, we’ve started going into a new era of modern retail, which focuses on smaller, personalised projects and proximity, and projects are built in areas with large population densities such as new residential neighborhoods. This trend is partly due to the fact that many cities in Romania can no longer handle large projects and, on the other hand, a change in consumption habits which maps out a new direction in retail. La Strada’s concept is a consequence of the new trends,” according to the company’s representatives.
La Strada Street Mall Brasov will be built on a 5,000 sqm surface, and it will make around 2,000 sqm available for retail spaces. The project is located in the Bartolomeu neighborhood, close to the Avantgarden 3 residential complex, an area with a young and active community. A contract was signed with consulting firm Coldwell Banker Brasov for the leasing of the retail spaces in Brasov.
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