Contractor hired for Park Lake in Bucharest

Sonae Sierra and Caelum Development have hired a general contractor for their Park Lake shopping center, which will go up in Bucharest’s Titan district. The name of the company has not been disclosed. Sonae Sierra and Caelum Development began excavation work on the plot earlier this year. Construction is set for completion in 2016. Costs are expected to total €80m. Park Lake will offer 70,000 sqm. Carrefour will anchor the project, taking 12,000 sqm.