Bel Rom Real Estate to invest 180 million euros in three Romanian retail parks
Bel Rom Real Estate (BRRE) will be investing 180 million euros in developing three retail parks in Romania in 2008, BRRE Manager Carl Decoopman told Rompres.
Decoopman attended the opening of the European Retail Park of Braila and of a Media Galaxy shop there.
"We will be investing 180 million euros in opening three retail parks in Romania: one in Braila, which has just been completed, one in Bacau, and another one in Focsani. Each investment project will be worth some 60 million euros," said Decoopman.
According to the BRRE official, BRRE will be investing a further 480 million euros in 2009-2010 in opening more retail parks in Turnu Severin, Deva, Botosani, Piatra Neamt and Bucharest. "The investment in Bucharest City will be worth 180 million euros, as it will cover 100,000 square metres and comprise 20,000 square meters of office space," said Decoopman.
BRRE has so far opened two more retail parks, one each in Sibiu and Targu Mures.
The retail park of Braila covers 126,000 square meters, with the built area standing at 70,000 square meters, and it also has a parking lot for 1,300 cars.