The Sun Plaza Mall – A Top Property in Romania
The Sun Plaza Mall, located in the portfolio of S Immo, owned by CPI Property Group (CPIPG), the company of billionaire Radovan Vitek, is among the top 10 most valuable properties generating the highest revenues.
Unique Position in Romania
It is the only property in Romania to be included in this top. CPIPG, owned 86% by the Czech billionaire Radovan Vitek, 53 years old, has acquired in recent years the Austrian developers Immofinanz and S Immo, both present in Romania, as well as a stake together with a German fund in Globalworth, the largest office building owner in the country. In total, CPIPG’s Romanian portfolio was valued at 1.616 billion euros at the end of March 2024.
The Largest Mall in Southern Bucharest
The most valuable asset in Romania, Sun Plaza is valued at 217 million euros, according to company data consulted by Economica.net. The mall in southern Bucharest was opened in the spring of 2010, following significant investments.
The Success of Sun Plaza Shopping Center
Vitek has a fortune of 6.6 billion dollars, according to Forbes. The shopping center has an area of around 82,000 square meters and underwent a modernization process six years ago. At that time, the owner invested 30 million euros in reconfiguring the mall. New investments in the modernization of the mall are expected to be made in the near future.
Sun Plaza’s business reached 113 million lei, an increase of 12% compared to 2022. The company managing the mall reported a profit of 49 million lei, according to data from the Ministry of Finance.
