Hungary's Futureal real estate developer and Austria'sImmofinanz investment fund yesterday opened the last mall of 2010,Gold Plaza of Baia Mare, the most important real estate investmentcompleted this year outside the capital city, just several daysafter Bucharest's City Mall project went bankrupt, while ArmoniaCenter of Brăila entered insolvency proceedings.
In the absence of the mayor, convicted of corruption, the openingof Gold Plaza mall of Baia Mare was attended by the CEO ofImmofinanz, a 9bn-euro business, who was accompanied by an "army"of company representatives, the owners of Futureal, and the generalmanager of Cora Romania, Philippe Lejeune.
What made these investors continue developing a 30,000 square metremall in a city like Baia Mare, with a population of around 140,000inhabitants, half compared with Cluj or Timişoara?
"Over a 50-minute drive radius there are 1.2 million inhabitantswithout any alternatives of shopping in a such a big centre,"explains Eran Socher, the manager of Futureal, who was in chargewith developing this project. Futureal was assisted in the malldevelopment by Ţuca Zbârcea & Asociaţii law firm.
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