Victoria City Center, a new real estate project, will be developed in Bucharest

Benevo has obtained the construction permit for Victoria City Center, project that was initially scheduled to start at the beginning of the year, thus the company announces that construction works will eventually begin this July after the contracting of a construction company planned for the following month. Its opening is expected next year, in October.

The project with a GLA (gross leasable area) of 68.000 sqm includes a shopping center and an office building adjacent to it that will be located in North-Western Bucharest – where the former Dacia textile factory was based, near the Jiului metro station.

Apart from the retail area, already 70 percent leased to tenants such as H&M, Cora, Hervis, Mango, Deichmann, or C&A, the shopping center will have a dedicated food and entertainment area, both in the inside and the outside zone.

The office building, Victoria City Tower, will comprise of 16.600 sqm of A-class office of which 3000 sqm retail space connected with the shopping center. It will be later finalized, though, Benevo scheduling the opening in the first quarter of 2016. The developer is also working on the second phase of the project developed in cooperation with CD Capital, which will result into further 15.000 sqm of retail space.

Benevo is a privately held investment and development company with substantial real estate and non real estate holdings in Canada and Romania. In Romania, the company, controlled by Michael Topolinsky, is also active in the residential real estate area and in the industry sector, as last fall purchased the Aversa pump manufacturing business.