Indotek Group invested EUR 16 mln in the renovation of the Plaza M shopping center

Indotek Group, a European real estate investment group based in Budapest, invested EUR 16 million in the renovation and rebranding of the Plaza M shopping center in Târgu Mureş, previously known as Promenada Mall.

With an area of 55,000 sqm, the complex has in its portfolio brands such as CCC and HalfPrice, but also the new entrances Tedi and New Yorker, others being prepared to be inaugurated. The mall now houses 90 stores, with a current occupancy rate of approximately 92 percent.

"The wave of new store openings is scheduled to continue in July, with the arrival of two important tenants. Danish furniture retailer Jysk which focuses on home decoration and Fressnapf, a relatively new player on the Romanian market specializing in pet products, which boasts a significant European presence with over 1400 units," said Zsolt Kertai, the head the International Retail department at Indotek.

The renovation project, carried out in two stages, included a 10 percent expansion of the surface, the modernization of the interiors and the complete restoration of the community areas. Also, the Auchan and Leroy Merlin stores were completely remodeled and a garden area was added.