Baneasa Developments, a company controlled by businessman Puiu Popoviciu, one of the most powerful real estate developers in Romania, will build an approximately 50,000 square-metre mall in the centre of the Capital, on an already acquired plot. Baneasa Developments is also developing the commercial area (Baneasa project) in the North of the Capital, which is attracting investments worth 1.8 billion euros. The project in the centre of Bucharest will be the third mall developed by the group of firms controlled by businessman Puiu Popoviciu, after Baneasa Shopping City, an investment worth 150 million euros, and the shopping centre planned on the site of the current Obor square, a project with an estimated value of around 120 million euros.

"The new shopping centre will have a surface area similar to the centre in Baneasa, while the company has already acquired the land on which it will be built," said Ali Ergun Ergen, manager of Baneasa Developments, without specifying the location.