Ovidiu Budeanu launches major expansion of Arena Mall Bacău and new Mercure Hotel construction

Bacău, Romania – Entrepreneur Ovidiu Budeanu has initiated an ambitious expansion of the Arena Mall shopping center in Bacău, increasing its area by approximately 70 percent. This project also includes the construction of a 4-star Mercure hotel and the first building of an adjacent residential complex. The expansion is funded through financing secured from UniCredit and Libra Bank.

Budeanu is already contemplating a fourth phase of expansion, which aims to extend the mall’s area to around 55,000 square meters by 2030.

“We are beginning the expansion works after securing all the necessary financing for the project. The expansion of the mall is integrated with the hotel component, sharing common substructures, which is why we are starting the works simultaneously. Concurrently, we will commence construction on the first residential building. Initially, we will create 1,000 parking spaces for Arena Mall. Following the expansion, the mall will cover an area of 42,000 square meters, excluding the food anchor,” stated Ovidiu Budeanu.

The total cost for expanding the mall is estimated at EUR 45 million, with an additional EUR 10 million allocated for the hotel construction and approximately EUR 10 million for the first residential building, which will house 90 apartments. The construction work will be carried out by SSAB, a company based in Bacău.

Source: Profit.ro