The H&M unit will be located on two floors of the commercial center and will be opened in spring 2013. This will bethe 24th unit of the Swedish fashion retailer in Romania.
„We are pleased to announce the opening of H&M’s store in Botosani this spring, at Uvertura Mall. H&M’s presence in our shopping centresets solid grounds for our future development and supports us in our goal of positioning Uvertura Mall as the main retail destination in the city and one of most important shopping centers in the region.” stated Danut Prisecariu, the owner of Uvertura Mall.
“H&M continue their expansion in Romania. After two years of presence on the local market, we are very satisfied with our results and we are glad to see that Romanian customers appreciate high quality fashion at most affordable prices. We are enthusiastic to open new stores in more Romanian cities, so that our products will be reachable throughout the country”, stated an official of H&M. – Lori Orosan, Expansion Manager CEE at H&M.
Part of the portfolio of the Romanian developer Moldova Mall SA, Uvertura Mall has 15,000 s qm GLA, at the end of 2012 was 82% leased and has all the attributes to become the main attraction for Botosani county and its surroundings. The commercial centeris on schedule for the opening planned for the end of March 2013.
Recently, the real estate international company, DTZ Echinox has been appointed to handle the property management of Uvertura Mall Botosani.
According to DTZ Research the modern retail stock per thousand inhabitants in Botosani stood at 119 sq m in 2012, the lowest value compared to stocks counties in the region: five times below the Suceava County average of 562 sq m, nearly three times below the Iasi and Bacau average of 339 sq m and twice below the average of Piatra Neamt. The Botosani retail market currently registers few modern retail spaces available, compared with the cities in the region, despite a good economic outlook and consumption growth potential.
