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New outlet worth 40 million euros in Bucharest

The company running on Belgian capital Liebrecht&Wood, developer of business center Victoria Park in Bucharest is holding negotiations for the acquisition of a plot of land near Bucharest, where it plans to develop the second outlet center in Romania, said Johan Rogiers, managing partner within the company.

The investment is appraised at 35-40 million euros. The area of the project is smaller than West Park center, which Liebrecht is developing at present, daily Business Standard reports. Johan Rogiers estimates Bucharest can bear two, maximum three outlet commercial centers. According to representatives of Liebrecht&Wood, it is possible in the future the company enter the residential sector, but only as additional activity of current developments. Recently, the company decided to contract a loan worth some 40 million euros from Erste Bank in Vienna to finalize the works at West Park Project, whose overall investment is of some 120 million euros. The project includes an outlet center, called Fashion House, furniture shop Kika, a Hornach store, as well as a location for the electronic and home appliances retailer Technomarket. The project is developed on a plot of land covering an area of 25 ha and is to be carried out in November this year. At present, the center is rented in a ratio of 90 percent. The company's main competitors are Israeli Globe Trade Centre, Banesa Investments and Mivan. Sursa: http://www.rompress.ro

Tags: center bucharest euros million outlet

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