Real estate investment and development company Global Vision has announced its first entry into the retail sector with a commercial project in Oradea, northwest Romania. The investment exceeds EUR 10 million and is part of the company’s broader EUR 150 million investment pipeline.
The new retail development, named Oradea Retail Plaza, will be located in the southern part of the city with direct access to the ring road.
The project spans more than 25,500 square meters and will be anchored by ATAC Hiper Discount, the discount hypermarket format operated by Auchan. The retailer has secured a 7,500 sqm space under a long-term lease agreement.
In addition, the development will feature a commercial gallery of over 1,500 sqm, offering space for national and international brands.
The project marks Global Vision’s official debut in the retail real estate market, complementing its existing portfolio in the industrial, office, and residential sectors.
Global Vision CEO and Founder Sorin Preda said that the company’s expansion into retail follows the same principles applied across its other sectors, namely “long-term vision, strategic positioning, and value-driven development.” The company aims to continue growing a diversified portfolio.
Meanwhile, Auchan Romania CEO Ionuț Ardeleanu noted the successful performance of existing ATAC Hiper Discount stores and affirmed the company’s strategy to expand the format nationwide.
Founded two decades ago, Global Vision has become a leading investment and development real estate platform in Romania and Central and Eastern Europe (CEE).
Auchan Romania has a portfolio of over 480 stores, including 26 classic hypermarkets, 8 ATAC Hiper Discount hypermarkets, 9 supermarkets, the Auchan Go smart store, almost 400 MyAuchan ultra-proximity stores, most of which are in Petrom stations, over 40 Simply by Auchan franchise stores, as well as the auchan.ro online store.
irina.marica@romania-insider.com
(Photo source: the company)
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