Zooming into the future of Bucharest retail: M Core constructs a novel M Park in Ghencea District
M Park: Sustainable Retail Development Coming to Bucharest's Prelungirea Ghencea
M Core, a leading player in the real estate market, is set to expand its Romanian portfolio with a new retail development in Bucharest. The project, named M Park, will be located on Prelungirea Ghencea Street, no. 344-348, in one of the city's most dynamic residential areas.
The development plot for M Park spans approximately 51,400 sqm, with a built-up area of around 14,400 sqm. This retail centre is designed to host a mix of local and international brands, aimed at meeting the daily needs of residents in this fast-growing district.
Construction on M Park is scheduled to begin in 2026, with the official opening planned for 2027. The project is currently in the urban planning phase.
Clemens Petschnikar, CEO of Square 7, part of M Core, expressed a long-term investment interest in Prelungirea Ghencea. He emphasised that M Core's goal for M Park is to bring value that extends beyond the commercial aspect.
M Park will incorporate green technologies and sustainable features. These include electric vehicle charging stations and efficient construction measures aimed at minimising environmental impact. The developer intends for M Park to contribute to Bucharest's sustainable development beyond just the commercial aspect.
These sustainable measures align with M Core's ESG commitments. The retail centre is designed to support both the fast pace of urban life and the principles of sustainability. M Park is expected to become a new reference point for proximity shopping in the area.
M Core, with a portfolio exceeding 1,050 assets valued at over €7 billion, brings strong expertise to this project. The company is committed to sustainable development, and M Park is part of this ongoing commitment.
References:
- M Core press release, link
- Local news article about M Park
- Urban planning documents for M Park
- Clemens Petschnikar, CEO of Square 7, a part of M Core, has shown a long-term interest in the finance and commercial sector of Prelungirea Ghencea, Bucharest, as M Core plans to invest in real-estate development through the construction of M Park.
- In addition to hosting a mix of local and international retail brands, M Park will incorporate green technologies and sustainable features, such as electric vehicle charging stations, aiming to minimize environmental impact and align with M Core's ESG commitments.
- The retail sector in Bucharest's dynamic residential areas will receive a boost with the opening of M Park, planned for 2027, as the project represents an expansion of M Core's existing portfolio of over €7 billion in assets.
