British group M Core has signed for the acquisition of Shopping City Suceava shopping center from real estate investor Argo Capital, marking the largest transaction in the last five years involving the full sale of a mall. This agreement also marks the sale of the last major asset of the Argo Capital group in Romania.
Shopping City Suceava has a rentable area of 43,100 sqm, where over 100 retailers such as Carrefour, Leroy Merlin, Mobexpert, Decathlon, Sinsay, New Yorker, KFC operate, according to data from real estate consulting company iO Partners, which advised Argo Capital on the transaction.

“Argo has played a key role in the development of the Ukrainian retail market since 2006 and, as the market has evolved, we have decided to withdraw from Romania and focus on the Ukrainian market, which we anticipate will become extremely dynamic once the war ends,” said Andreas Rialas, Director of Argo Capital.

“This acquisition aligns with our strategic expansion objectives in Romania. We are actively exploring all opportunities in the retail sector to develop our portfolio and strengthen our presence in the market,” said Sebastian Macdonald-Hall, Chief Investment Officer at M Core and Co-CEO for Romania at LCP.

Veranda Mall shopping center, owned by the Pogonaru family, the Pavăl brothers, Evergent and Erste Bank, has been put up for sale and has entered the radar of interest of real estate investors AFI Europe and M Core, according to sources in the real estate market. The value of a possible transaction of Veranda Mall is estimated at around EUR 80 million.

If AFI Europe were to buy Veranda Mall, this would be its first acquisition made in this real estate sector in Romania. The main acquisitions made by AFI Europe at a local level have focused on the office sector.

As for M Core, the British investor has just bought its first mall in Romania, Shopping City Suceava, and is also in discussions for the acquisition of Focșani Mall. If it were to buy Veranda Mall, M Core would officially enter the Bucharest mall market, a sector in which it is present only with retail parks.

Veranda Mall was inaugurated in 2016 following an initial investment estimated at EUR 60 million, refinanced in 2018 with a 15-year loan of EUR 34 million from CEC Bank. In 2019, the shopping center was expanded to its current area of 34,000 square meters, after an investment of about EUR 10 million.

Source: Profit.ro

The largest health & fitness club World Class in the North of the Capital, and the 47th in the network, was inaugurated in Cosmopolis Plaza. With an area of over 2,300 square meters, the World Class club in Cosmopolis Plaza also includes the first indoor swimming pool in the complex.

“World Class, the first health & fitness network in Romania, continues to expand its presence in growing areas because our main mission is to make Romanians more active. In the Cosmopolis community, we have brought premium workout and swimming facilities, as well as a strong team of health and fitness experts, in order to contribute to a healthier lifestyle for the more than 15 thousand residents of Cosmopolis, as well as for the residents of the neighboring communities.

In the 25 meters long and 13 meters wide swimming pool with 7 lanes, we will focus on teaching as many adults and children as possible to swim, and in the club’s rooms we offer opportunities for physical activities and classes, from fitness, personal training, Skill X and dedicated children’s programs,” says Kent Orrgren, CEO of World Class.

“Because Cosmopolis has become city-like in size, we want to offer our residents all the services they need as close to their home as possible. The health and fitness component is a very important one, which is why the partnership between World Class and Cosmopolis is proof of our commitment to encouraging healthy living for our customers, as well as our emphasis on premium services.

World Class Cosmopolis can be accessed both from the Bucharest Ring Road, via Tunari, and soon from the A3 highway, a road that will transit the new development phase, Cosmopolis 2.0”, emphasizes Ozan Tuncer, CEO of Cosmopolis.

PENNY Romania marks the beginning of 2025 by relocating its store in Odorheiu Secuiesc to an expanded space, located on Târgului Street, no. 1A, Harghita County. The store has a sales area of 851.39 sqm and offers 80 parking spaces.

PENNY currently has 416 stores nationwide. For 2025, the company plans to open 35-40 new stores, thus consolidating its network that already had 416 units at the end of 2024.

PENNY will also complete the construction of its fifth logistics center, essential for supporting operational growth.