Banca Transilvania provides €16m loan for Romanian shopping park

Banca Transilvania is providing over €16 mln in financing for the largest shopping park in Transylvania, Romania.

Urbano Shopping and Living

Urbano Shopping & Living is a major €100 mln shopping park development by Urbano Group that will transform Floresti, Cluj County, into a Transylvanian retail and entertainment destination starting next year. 
This project, targeting a proximity audience of over 150,000 people, will span 25 hectares and feature a DIY store, cash & carry hypermarket, supermarket, furniture and decoration, clothing, footwear, health and beauty, dining options, office spaces, and event halls. 
Urbano Shopping & Living is expected to create over 500 jobs and incorporates environmentally friendly solutions such as over 5 hectares of green spaces, efficient energy management, renewable energy options, and charging stations for electric vehicles and bicycles.
Cosmin Călin, senior executive director Large Companies, Structured Finance and Factoring, Banca Transilvania, said: “We support Romanian companies that invest in sustainable development, and URBANO Group is an example in this respect, with which we have a very good collaboration for over 15 years. We are glad to have the opportunity to contribute again - by supporting URBANO Shopping & Living - to the development of Cluj and the local community. In addition to its immediate impact in the community, such a project has the potential to develop a real ecosystem around it, thus becoming a point of interest for related real estate developments in later stages.”
Alexandru Șerban, co-founder, URBANO Group, added: “With this investment in the new business park we want to generate a representative impact for the residents of the west of the Cluj Metropolitan Area. URBANO Shopping & Living will reflect the vision and values of our team: integrated, sustainable developments, dedicated to the community. The financing granted by Banca Transilvania validates our investment principles and confirms our long-term partnership for the success of the project.”
URBANO Group develops projects in logistics-industrial, residential, and commercial sectors in Cluj-Napoca and its metropolitan area.