Property developer Plaza Centers has acquired a major retail development in the town of Miercurea Ciuc, in Central Romania. Although the acquisition price was not disclosed, Plaza Centers said that the expected investment in the project is EUR 16 mln. The company is planning to develop a 16,000 m[sup]2[/sup] shopping mall and a 13,000 m[sup]2[/sup] parking lot on the site.
Property developer Plaza Centers has acquired a major retail development in the town of Miercurea Ciuc, in Central Romania. Although the acquisition price was not disclosed, Plaza Centers said that the expected investment in the project is EUR 16 mln. The company is planning to develop a 16,000 m2 shopping mall and a 13,000 m2 parking lot on the site.
Plaza Centers said in a statement that the deal represents its third acquisition in Romania in just eight months, following the purchase of a site in Timisoara, West Romania, last March for the development of a mixed-use scheme, and the Casa Radio (Dambovica) development in Bucharest through a partnership with the government of Romania. The Casa Radio scheme, valued at over EUR1 bn, is the largest development plot available in the Romanian capital, covering an area of more than 9 ha. The project comprises a 132,000 m2 shopping mall and leisure centre, an extensive residential area, hotel, casino, hypermarket, convention and conference hall, together with two 135-metre tall towers of 53,000 m2 each.