Galleria Mall Arad is put up for sale for EUR 9,2 mln

by   CIJ News iDesk V
2023-09-19   10:08

A shopping mall in Arad, opened in 2011 after an investment of about EUR 70 million, which has not been in operation for the last few years because it was abandoned by tenants, is put up for sale for EUR 9,2 mln. According to the sale announcement of Galleria Mall Arad, the price is EUR 100 per built sqm for 92,000 built sqm. The building has 35,000 sqm of land and 1,000 covered parking spaces.

The current owner, Casa Suprema, purchased the project in 2016 from GTC for EUR 2.1 million, while some of GTC's debts to banks were also taken over.

Market sources said that two investors are in negotiations to take over Galleria Mall Arad, where they would develop a shopping complex, an entertainment centre and a spa.