Austria's property company Meinl European Land is developing a retail centre in the West Romanian town of Arad. The complex, which will provide some 60,000 m[sup]2[/sup] of rental space, will involve and investment of EUR 70 mln, Meinl said. The new centre marks the beginning of the company's expansion into Romania, the company said in a statement.
Austria's property company Meinl European Land is developing a retail centre in the West Romanian town of Arad. The complex, which will provide some 60,000 m2 of rental space, will involve and investment of EUR 70 mln, Meinl said. The new centre marks the beginning of the company's expansion into Romania, the company said in a statement.
A week ago, Meinl EL announced it was launching a EUR 375 mln joint venture with the European Bank for Reconstruction and Development (EBRD). Under this partnership, Meinl European Land will start developing retail properties in Caucasus and Central Asia. The new joint venture company, owned 35% by EBRD and 65% by Meinl EL, would mainly concentrate on investments in Georgia, Armenia and Kazakhstan, Meinl said. The company added that it has already identified several potential projects.
