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IGD to buy Winmarkt store chain in Romania

The Winmarkt store chain in Romania will be bought by Italian Immobiliare Grande Distrribuzione (IGD), for 182.5 million euros.

IGD also signed a contract for the purchase in the months to come of a shopping center in the mountain resort of Sinaia, Prahova Valley, 120 km north of Bucharest, for 16.24 million euros. IGD delegate administrator Filippo Carbonari said IDG is expanding its investment portfolio on foreign markets, it has chosen Romania, because it reported one of the highest growth rates in the European Union, which has also been seen in the real estate market. IGD can benefit from the good macro-economic conditions in Romania, daily Bursa quoted Carbonari as saying. Winmarkt owns 15 shopping centers, in big Romanian cities, stretching over a total area of 147,000 sq m, and a building rented to a bank. IGD is one of the big administrators of retail space in Italy. In end 2007, IGD owned ten shopping malls, three buildings under construction and two shopping centers. The IGD shares are listed on the bourse in Italy. Sursa: http://www.rompress.ro

Tags: romania winmarkt

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