Galleria Arad was acquired in 2016, as a commercial shopping center in a financial distress situation. The shopping center has 95,000 sqm GLA, over 100 retail units, and 1000 parking spots. It was facing very low occupancy rate, and a decreasing footfall traffic due to the exit of main anchor tenants.
Galleria Arad will soon have over 75% occupancy rate leased to international brands, corporate offices, and public institution offices for municipality of Arad.