1.2 C
January 18, 2022

Anchor earmarks EUR 50 M to expand and reconfigure Plaza and Bucharest Mall

Turkey’s Anchor Group real-estate developer announced on Wednesday that it will earmark EUR 50 M in order to expand and reconfigure the two malls it owns in Bucharest – the Plaza Romania and Bucharest Mall. The funds will come from the developer’s own sources, the developer benefiting from the support of Fiba Holding, the group it is part of. Anchor’s investments in Romania will thus reach the EUR 350 M mark, Mediafax informs. The two commercial centres’ surface will be expanded by 20 per cent. Following the investments, Plaza Romania’s and Bucharest Mall’s cumulated rentable areas will surpass 100,000 square meters. “The works will span an 18 to 24-month period. We won’t close down the centres during the works, we will close down only parts of them,” Elir Ergun Ergen, Anchor Group CEO, stated during a press conference. He pointed out that the developer’s intention is to transform Plaza Mall, located on the Timisoara Boulevard, into a centre for recreational activities, so that the mall will have an expanded entertainment area.

Related posts

AFI Europe Romania Q1 2016 financial results: Net Operating Income (NOI) of Romanian portfolio increased to EUR 10.8 million, 12.2% higher than Q1 2015 results

Nine O' Clock

Romania – R. of Moldova action plan on rural development

Nine O' Clock

OMV Petrom starts 2014 with lower financial figures than 2013

Nine O' Clock