Bucharest, November 10, 2008 – Today the Polish investor and developer Echo Investment presented the details about KORONA – a new shopping-entertainment center which shall be erected in Brasov in the first half of 2009 and completed in the second half of 2010.
Echo Investment, Polish real estate investor and developer today announced the first investment in Romania – KORONA shopping-entertainment center. With this occasion, Piotr Gromniak, President of Echo Investment, emphasized the special character of this project: „It is our first investment in Romania and one of the biggest company’s projects. I’m very glad, that we start our activity on the Romanian market just in Brasov – a real pearl of Transylvania.” He also underlined excellent cooperation with the city authorities and their professionalism. „Echo has accomplished so far several dozen development projects, and currently we are engaged in many others in Poland, as well as outside of Poland. Taking into account our experience in similar projects so far, I may say that cooperation with Brasov authorities develops perfectly and support that we have obtained from Brasov City hall has been very helpful.” - added Piotr Gromniak.
“KORONA is a modern, multifunctional shopping-entertainment center of the total area of 153,000 sq m. On the four levels of the center, on the total area of approximately 53,000 sq m of GLA around 240 stores are going to operate. The shopping offer will include the following: big textile networks, sports shops, decorative and interior equipment goods, electronics, multimedia centers and service points. KORONA center is a place not only for shopping, it’s also a place where each member of family can spend the spare time in attractive way. The extensive entertainment program comprises, among others: multi screen cinema, bowling alleys, casino and fitness club. The offer shall be supplemented by bars, restaurants, and cafés. Customers shall have at their disposal approximately 2000 parking places. “I am sure that KORONA - with its scale, variety and unique atmosphere - will become soon one of the most attractive and famous place in Brasov.” – says Catalin Florea, Leasing Manager of Echo Investment.
The name of the future shopping-entertainment center – KORONA – and the symbol – the crown - refers to the history of the city, and also to the symbolism of the mountainous landscape of Brasov.
The proposed urban concept of the land development prepared by Echo Investment was unanimously approved by the city authorities in the form of PUZ decision.
The concept design of KORONA shopping-entertainment center has been elaborated by IMB Asymetria architectural office from Poland together with local Romanian architects Dico si Tiganas. According to assumptions, the architecture of the building reflects the commercial-entertaining nature of the center.
The building shall be supplementary to the existing Brasov urban arrangement, and also an important commercial center of regional significance.
Project and construction management service is provided by Romanian company: Vitalis Consulting.
The commercialization of the project will be carried out by Echo’s specialists in close co-operation with Romanian branch of international agency Jones Lang LaSalle.
The anticipated term of the commencement of the project falls in the first half of 2009 and of its completion in the second half of 2010. The estimated cost of the investment shall equal approximately 150 million EUR.
According to assessments, the new center shall generate approximately 1500 new workplaces.
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IMB Asymetria is a Polish architectural office operating since 1999, a member of EEA – European Architects’ Alliance, associating architectural offices from the Western Europe countries. The studio offers full scope of designing services in architectural and urban designing, interior design and landscape architecture. It specializes in designing of big establishments, such as commercial centers, multiplex cinemas, hypermarkets, hotels, residential complexes.
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Dico si Tiganas is a design office operating since 1997 in Romania. The studio is a holder of quality mark ISO, SRAC and IQNET. It deals in creation of architectural, construction and installation designs. Among the designs realized by Dico si Tiganas one may find apartment buildings, office buildings and industrial buildings.
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Vitalis Consulting is an international consultancy company in the construction and real estate sector since 2006. The company is a holder of "ISO Quality Certificate for Project Management", issued by QCert. It specializes in preparing the master program for the project, organizing, co-coordinating and controlling the design, permitting and construction processes, organizing the tendering, awarding and administration of maintenance contracts and site supervising, control and enforce the quality standards throughout the construction process.
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Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2007 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion sq ft (112,000,000 sq m) worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $53 billion of assets under management.
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