Immofinanz buys Futureal's Gold Plaza mall in Romania

Hungarian developer and investor Futureal has announced the completion of the sale of the Gold Plaza Project shopping and entertainment centre in Baia Mare in the northwest of Romania to Austria's Immofinanz.

Gold Plaza was jointly developed by Futureal and Immofinanz with Immofinanz committing to purchase the scheme upon completion. The 30,000-m² centre representing an investment of over EUR 70 mln was one of only three shopping centers to open last year in Romania.

'The commitment from MKB Bank, our contractors as well as the trust of our tenants proved to be key for success in these challenging economic times,' said Gabor Futo, founder and CEO of Futureal. Gold Plaza opened nearly 90%-let in November last year and has enjoyed a solid footfall and good turnover figures since.

'Our success in Baia Mare sends a good message not only to the city and the region, but also to the retail sector in Romania,' commented the project director Eran Socher.

Colliers International is the leasing agent for the project.