German group Rewe is preparing a mixed-use real estate development

by   CIJ News iDesk V
2023-08-09   10:46

The German group Rewe, which owns the Penny network, has initiated a mixed real estate project with commercial and residential premises on a 5,000 sqm plot of land, surrounded by the Greenfield residential complex and the Băneasa Forest.

The former owners of this land proposed in 2015 the construction of 9 villas with two floors each, through a Zonal Urbanistic Plan. If Rewe goes ahead with the initiated project, it will be the first investment in the residential sector made by the German retailer.

The company has set out to invest over EUR 1 billion in the Romanian market by 2029, mainly by expanding its network to a total of 619 stores and 6 logistics centers.