Square 7 Group Announces New Ownership and Management Structure

Square 7 Group today announced a new ownership and management structure for the entire group of companies: Square 7 Properties, Squarebox and Switchboard.

Clemens Petschnikar, who owned 100% of Square 7 Properties, recently acquired the minority shareholder packages of Squarebox and Switchboard and is now full owner of all three group companies. Square 7 Properties is the development company, Squarebox is the property management company, while Switchboard is the facilities management company.

In the new management structure, under Clemens Petschnikar as CEO, Ion Dinu is responsible for development, Brindusa Grama is responsible for asset management, Carmen Gontescu is responsible for finance, while Irina Panaite is responsible CEO’s Office and Human Resources.

Square 7 Properties is one of the most active players in the retail market. Recently it inaugurated the expansion of the Slatina Shopping Park (7,000 m²) and now has under construction the project located in Giurgiu and two other new projects in Pitesti and Mediaș under authorization, the three developments in Giruigiu, Pitesti and Medias, having a total area of ​​approximately 35,000 m².

The partnership between Square 7 and Mitiska REIM forms the basis of one of the most dynamic players in the retail park market, with a portfolio of 26 retail parks, covering 142,000 m². in total.

Square 7 Group has more than 15 years of experience in the Romanian market, with a strong and professional team that covers a wide range of services from development, administration, to facilities and property management. The economic model of retail parks has the advantages of food outlets, outdoor parking spaces and direct access to stores.

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