M Core's M Park Lugoj receives key approval

UK-based property investment and management group M Core has received a key planning approval (PUZ) for its new M Park retail development in Lugoj, Romania.

Clemens Petschnikar

M Park Lugoj will be built on a 32,000 m2, offering 9,800 m2 of built-up retail space. The project has already generated significant interest, with all retail units fully leased to a combination of international and local brands, signalling strong market confidence.
Construction is slated to commence in April 2026, with the official opening planned for January 2027.
Clemens Petschnikar, CEO of Square 7, part of M Core, stated: “We’re thrilled to announce PUZ approval for M Park Lugoj, this achievement reflects our close collaboration with local authorities and the continued positive reception of our developments across Romania. Our goal is to bring Lugoj a sustainable, high-quality retail space that meets the everyday needs of its residents.”
M Park Lugoj,  which expands M Core’s Romanian footprint to 37 cities, is part of a larger, ambitious growth plan in Romania, with over €200 mln earmarked for investment in the next two years. 
Earlier this month, M Core Group secured €177 mln in financing from Alpha Bank Greece to fuel its expansion in the Romanian market. The funding will support several key projects, including: acquiring Shopping City Suceava and Shopping City Focșani, two major shopping centres; purchasing seven retail parks from MAS Real Estate; and developing 18 new Lidl stores under the M Park brand.
Besides Romania, M Core Group also operates across the UK, France, Germany, Poland, and Spain, with a portfolio of over 1,300 retail, industrial, office, and residential properties.