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Anchor Group, the owner of the Bucuresti Mall and Plaza Romania shopping malls in Bucharest Romania will invest some EUR 25 million in refurbishing the two projects, said Razvan Gaita, the company’s general director. Works will start in the first part of 2014.
The total investment will be divided equally between the two malls. Plaza Romania will most likely be reconfigured and about 25 percent of its surface will be transformed into office space, added Gaita.
Bucuresti Mall was opened in 1999 and it was the first mall in the capital at that time. It now has a leasable area of 40,500 sqm. Plaza Romania was delivered in 2004 and covers some 40,000 sqm.
Anchor has scaled down its initial plan for the two malls. In October 2012, company representatives announced it will invest EUR 50 million in revamping and expanding the total leasable area by 20 percent, said Ali Ergun Ergen, CEO of Anchor Group at that time.
Gaita said the new investment plan is better suited to the present market conditions.
Anchor Grup is part of the Fiba Group holding which comprises 76 companies from 12 countries. It has been present in Romania since 1997, investing in retail, real estate, and the residential market. Anchor Grup’s local portfolio includes the Bucuresti Mall and Plaza Romania shopping malls, the Anchor Plaza office building and the In City Residences residential project. The company also developed the Shopping MallDova mall in Chisinau. business review Romania
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