€26 Million Renovation: Plaza and Bucuresti Mall Relaunched

Following two years of works and a 26 million euro investment, Plaza Romania and Bucuresti Mall return strongly, with new brands and redesigned spaces to better meet customer desires.

Plaza Romania 2016Having entered the local market nearly two decades ago, Anchor Group has invested an impressive sum in the renovation and reconstruction of the two malls in its portfolio: the reinvention of the Capital’s shopping center pioneers, Plaza Romania and Bucuresti Mall, cost 26 million euros.

“After nearly two years and over 26 million euros invested, Anchor Group completes the renovation of Bucuresti Mall and Plaza Romania and announces an occupancy rate of over 95% for the two shopping centers. The company confirms its position as a pioneer in the Romanian real estate development market, as the modernization works for the two shopping centers are the first of their kind to be carried out with both malls open,” emphasize Anchor Group representatives.

Over 60% of the stores in both malls – whose area amounts to over 25,000 square meters – were relocated and expanded during this complex renovation process (for example, H&M, Koton, Colin’s, and Mango doubled their area in Bucuresti Mall).

Among the renovated and remodeled stores are Sephora, Germanos, Optiplaza, and Starbucks in Plaza Romania, and Tommy Hilfiger, Ruby Tuesday, Gett’s, and Stefanel in Bucuresti Mall. Several stores were relocated, such as Mega Image, Intersport, Koton, Imaginarium, Colin’s, Sephora, Opticris, and L’Occitane in Bucuresti Mall, and Adidas, Mothercare, and Samsonite in Plaza Romania, respectively.

“When we planned the renovation of the two malls, the first things we considered were the needs of our customers and tenants. We wanted to offer customers the products and services they have become accustomed to, while ensuring that our most important partners, the tenants, could continue their daily commercial activities as always. This is why we chose the hard way: renovating both malls while they remained open to the public. The renovation was a joint effort – ours and our tenants’ – and I am proud that they followed our lead, renovating their stores in turn,” stated Affan Yildirim, General Manager of Anchor Group.

Following the investments, both malls attracted new tenants: 28 new stores were launched in Plaza Romania (including Penti, Koton, LCW, MAC, Sportisimo, CCC, Salad Box, Oro Toro, DS Damat, English Home, Opticris), with eight more set to open soon. Regarding Bucuresti Mall, there are 23 new stores (including Penti, LCW, Time Out, Salad Box, Oro Toro, Subway, Cinema Café, Pandora, Teilor Jewelry, English Home), six of which will open soon. Overall, during the renovation process, the occupancy rate reached 95% in Plaza Romania and 96% in Bucuresti Mall.

A premiere for the local market is the transformation of retail space into office space: Anchor Group launches Plaza Romania Offices with Mega Image as the main tenant. Thus, the leasable area of 47,000 square meters before the renovation was converted into 38,000 square meters dedicated to the commercial area and 10,600 square meters dedicated to office spaces.

“Bucuresti Mall remains the fashion center of Bucharest, while Plaza Romania maintains its status as an integral part of the residential community. However, both buildings have changed considerably, the goal of the renovations planned with the help of Altoon Partners being to revitalize the look of both malls and create new experiences, in line with current trends while maintaining high standards in the products and services offered to customers,” the company representatives point out.

The fashion orientation of Bucuresti Mall is expressed through the colors and textures used, while Plaza Romania is about community, being the place where people like to spend their free time and socialize. This positioning was translated into terraces, urban greenery, and natural materials, complementing the surrounding environment—elements that make the shopping experience more pleasant. Furthermore, the first modern shopping center in Romania has a new facade on Calea Vitan, the iconic fountain has been reinvented, and new terraces have been set up. Regarding Plaza Romania, following the renovations, the shopping center benefits from a new entrance from Timisoara Boulevard, a brighter interior, linear elements and patterns, an expanded food court area, outdoor terraces, and new green spaces.