Austrian developer Real4You Group is embarking on a major development spree in Romania, in an attempt to expand its reach on Central and Eastern Europe. The company, which was founded in 1995 by Christian Rimpf and Klaus Riederer, will build several shopping centres in Budapest and in cities such as Satu Mare, Foscani and Targu Mures.

Branded as Mega Mall, the schemes will be marketed by Colliers International & DTZ Echinox, which were appointed as the co-exclusive leasing agents.

Real4You Immobilien is planning to build a 70,000-m2 centre on the site of the former Electroaparataj plant, in the Pantelimon neighborhood of Bucharest. The retail scheme will be the first to address the shopping needs of people living in the eastern side of Bucharest, the company said.

'We are noticing an increasing interest from the retailers towards the shopping schemes that are located centrally and we believe that the developer's strategy to secure the best locations in the four cities, corroborated with the quality of the projects, set solid grounds for long term performance,' said Razvan Sin, head of the Retail Department, DTZ Echinox.

'The Eastern part of Bucharest has a huge potential, given the population density and the generous catchment area,' added Simina Istrate, senior associate within the Retail Department of Colliers International.

Real4You Group is active primarily in Hungary, the Czech Republic, and Slovakia, while in Romania has a portfolio of 21 MiniMax stores and three retail parks.