Oasis Retail Development & Consulting development firm hasput a strong brake on investments in the ten shopping centrenetwork for which it has bought plots of land in recent years andis now focusing on the first stage of the Sibiu project, where itwill build a space for Obi DIY retailer.
"We've slowed down expansion lately and focused on someprojects, we've rethought concepts for some plots of land wherewe'll build retail parks instead of malls and we split intodevelopment stages the project in Sibiu, where we'll first build aspace for Obi. Moreover, we've finished three new supermarketsrented out to Plus and two smaller retail parks in Tecuci andFagaras, with tenants such as Takko, Deichman and domestic firms,"Klaus Reisenauer, one of the two shareholders of the firm toldZF.
Reisenauer partnered for the Oasis firm with another businessmanof Sibiu, Kurt Wagner. The two lived in Germany for 20 years,returning in 2002 as development partners for Kaufland supermarketnetwork.
The two teamed up with Austria's CA Immo investment fund todevelop a shopping centre in Sibiu, as well as with Real 4 Youfirm, the developer of MiniMax Discount network, together withwhich they bought several plots of land for the development ofprojects in Satu Mare, Botosani, Targu Mures, Pitesti, Focsani,Braila, Giurgiu and Bucharest.
Though the shopping centre market is oversaturated at the levelof announced projects and existent projects are registering weakresults, developers are still keeping these plots of land instandby believing that they will be able to develop after thecrisis and competition will no longer be as tight as it is now.
"We're expecting two things: a signal from banks (...). And moredetermination from the retailers that will expand further,especially discounters," said Oasis representative.
The two businessmen own 15 spaces rented to Plus in cities suchas Botosani, Roman, Hateg, Caransebes, Adjud or Lugoj, aredeveloping two spaces for Kaufland in Focsani and Oradea and own aplot of land in Oradea due to host a shopping centre.
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