Over €1.5bn invested in shopping centre construction in last three years in Romania

2010-02-04

In the past three years, the ten new most expensive shopping centre projects in Romania were worth €1.5bn in total, according to Ziarul Financiar.
The investors in shopping centre projects were both international and local companies. Six of the ten most substantial investments in shopping centres took place in Bucharest.
Last year, AFI Europe completed the largest shopping centre on the local market, Cotroceni Park in Bucharest, an investment of €300m. At present, there are some large shopping centre projects on hold because of a lack of funding. Most of these are in Bucharest and include ParkLake Plaza and Dambovita Center, which have been postponed until 2013-2014.
In the past five years, more than 50 shopping centres have been built in Romania and are worth €2.5bn in total. The most prominent investors in shopping centres in Romania are the local businessman Iulian Dascalu, with four completed Iuliu Mall shopping centres, the Austrian investment fund Immoeast, with three shopping centres, and Globe Trade Centre (GTC), with three Galleria shopping malls.