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October 4, 2022
BUSINESS

Cora Romania to enter real-estate market

Cora Romania, which owns the hypermarket chain bearing the same name, intends to enter the flat-building market, according to Mediafax, which quoted Philippe Lejeune, director general of Cora Romania. “We haven’t invested in real-estate before, because the price of land was too high, but, in the past years, we’ve spent approximately EUR 50 M to purchase land in Romania. We have two plots of land in Bucharest as well, one on the Alexandria Road, the other in Jilava (…) Cora is interested in flat-building projects and we are looking for partners to join us,” Lejeune added, without providing further details. At the same time, Lejeune announced the prospective inauguration, in the latter half of 2012, of a mall in Constanta, Corall, to be followed by another two in Brasov and Bacau. He further stated that the mall in Brasov would be opened next year and would cover a surface of almost 15,000 sq m. Moving on to another topic, the director of Cora Romania added that, last year, the value of the shopping basket dropped by 10 pc, although the number of buyers remained unchanged. For 2011, the company expects a slight rise in turnover and profit.

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