The acquisition of land for the Korona shopping and entertainment centre in Brasov (Romania) has finished. Echo Investment has purchased additional plots with a combined area of approx. 9,000 sqm. The purchase of the above-mentioned land completes the first, administrative and acquisition-related, stage of the development process and marks the start of the preparation phase regarding the implementation of Echo Investment’s first foreign project.

Echo Investment has become the owner of two plots with a combined area of 9,096 sqm, which are located next to a plot bought by the company earlier. “The purchase of the additional plots constitutes a crucial stage in the development of the Korona mall in Brasov. The purchased land will make it possible to increase its leasable area, which will in turn contribute to a considerable improvement of the centre"s attractiveness. Thanks to this Korona will be the largest and the first modern shopping and entertainment center in Brasov - Romania's winter capital. New plots are also very important because of the possibility of staging the implementation and ultimately increasing GLA to 45,000 sqm. The land purchase transaction coincided with the final stage of negotiations with the anchor tenant of the mall. This means in practice that Echo Investment"s first foreign project will soon enter the construction phase,” says Marcin Materny, director of the Shopping Centre Department – Foreign Projects in Echo Investment. ***
Korona is a modern, multifunctional entertainment and shopping centre. In the first stage of the project the space of 35,000 sqm was allocated to shops, service outlets, restaurants, entertainment area and 7-screen cinema, the next stage will provide additional 10,000 sqm of retail area. The clients of Echo will have minimum 1400 parking places. Conceptual design study of Korona was prepared by Bose International Planning & Architecture.
The Centre is planned to be built in the first half of 2013, and completed in the fourth quarter of 2014. www.korona-brasov.ro