Sonae Sierra to acquire six properties
17 December 2008
Portuguese Sonae Sierra commercial centre developer and operator, owner of River Plaza located in Ramnicu Valcea, plans to acquire six new real estate properties which are in various stages of development and to start managing a further two commercial centres as of 2009, company officials said.
''Since we entered the market (in 2007), we have analyzed some 40 properties for sale, keeping six of these, for which we have to begin the due diligence process. One of these properties is located in Bucharest, and the others around the country,'' said Ingo Nissen, Managing Director of Sonae Sierra Romania.
Part of these acquisitions will be made as partnerships, in order to benefit from the local knowledge of owners. Nissen said that the financial crisis has cut prices demanded by owners by up to 50%, and also changed their attitude in the negotiation process.
<<< back to Romanian news >>>
International Property News
Latest World News