A mall in the city of Arad, inaugurated in 2011 following an investment of approximately EUR 70 million, which has not been operational in recent years, is being offered for sale at a price of EUR 9.2 million.
The property includes a land area of 35,000 sqm and 1,000 covered parking spaces.
Two investors are currently in negotiations to acquire Galleria Mall Arad, with plans to develop a commercial complex, an entertainment center, and a SPA.
In 2017, most of the stores in the commercial center were closed, and over the past four years, the building has only hosted public service counters for identity cards, passports, or driver’s licenses.
Frequently Asked Questions
What is the current asking price for Galleria Mall Arad?
The mall is listed for sale at 9.2 million EUR, a significant reduction from its initial 70 million EUR development cost.
What are the proposed redevelopment plans for the property?
Interested investors are considering transforming the site into a multi-use commercial complex, including a SPA and an entertainment center.
How has the building been used since the stores closed?
In recent years, the facility has served as a hub for public administrative services, such as issuing passports and driver’s licenses.