Local developer Global Vision is taking its first step into the Romanian retail market with the development of Oradea Retail Plaza, a commercial project valued at €10M.
The Oradea-based investment marks a diversification of the company’s portfolio, which has previously focused on the industrial, office and residential sectors. This project is part of a larger investment plan by Global Vision that exceeds €150M.
Sorin Preda, CEO and Founder of Global Vision, said: “We are entering the retail market by applying the same fundamental philosophy that has guided our business: long-term vision, strategic locations and solid partnerships. This approach has allowed us to constantly build a resilient and diversified portfolio.”
The retail park is being developed on a plot of land exceeding 25,500sq m. It will include an ATAC Hiper Discount store, a discount format operated by Auchan, which will occupy over 7,500sq m. Additionally, there will be a commercial gallery of approximately 1,500sq m, intended for national and international brands.
For Auchan, this partnership supports the expansion of the ATAC format, one of the group’s strategic projects.
