Baneasa Investments revises market strategy
30 January 2009
Baneasa Investments is looking for the right moment to resume investments in the domestic market.
''We are currently at a stage of observing the market, and will resume investments if this is viable, if demand and opportunities exist,'' the company’s Marketing Vice President, Ionut Bodea, said.
'So far, we have redrafted our strategy four-five times, because we are obliged to adapt constantly to market conditions.'', Bodea added.
Last March, the company opened the Baneasa Shopping City mall in northern Bucharest, following a EUR 150 million investment. The project has some 85,000 square meters of rentable space.
The mall is located in the retail area of the EUR 1.8 billion Baneasa Real estate project. The project, one of the largest in Romania, covering 221 hectares, was announced in the summer of 2006, and will be built in several stages, by 2015.
Part of the retail area has already been completed, with several hypermarkets and the IKEA furniture retailer already operating. It will also include other major retailers, on a total 170.000 sqm area.
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