Girexim Universal to invest EUR 100 million in Pitesti mall
16 September 2008
Girexim Universal plans to invest EUR 100 million in a new mall in the city of Pitesti, some 100 km west of Bucharest.
'We purchased a plot in 2005 with less than EUR 2 million and we have already started construction works. Half of the EUR 100 million will come from our own funds and the rest from loans,'' said the developer's General Manager, Gigi Vasii.
The 64,000sqm mall will host 240 stores. The company plans to build another mall in 2009. ''In Ploiesti or Pitesti, the malls will lift the commercial stock to 1,000sqm per 1,000 inhabitants, five times higher than the European average, which is concerning,'' said UniCredit Tiriac Bank Real estate manager Antonela Marchievici.
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