On November 23, 2021, Immofinanz announced that it had completed the refurbishment process of over 10,000 square meters of VIVO! Baia Mare, in Romania.
According to the company, this marks the reopening of one-third of the total rentable area of the shopping center. The investment that went into modernizing the space was approximately EUR 7 million.
“Following the successful refurbishment of VIVO! Cluj in 2019, we are happy to reopen VIVO! Baia Mare freshly modernized in order to provide customers with a contemporary atmosphere, premium services, and an improved shopping experience,” said Immofinanz Romania Country Manager Operations Fulga Dinu. “This underscores VIVO! Baia Mare as the leading shopping and entertainment destination in Maramures, and it is part of Immofinanz’s strategy to keep up with the trends and modernize all shopping centers in its portfolio.”
Immofinanz also informed that its Romanian assets now have a carrying amount of EUR 775.5 million and represent 15.2% of the company’s total portfolio. In the retail segment, Immofinanz has three other shopping centers in Cluj Napoca, Constanta, and Pitesti, as well as a retail park STOP SHOP in Botosani. The shopping centers owned and managed by Immofinanz in Romania have an occupancy rate of over 98%.