The value of projects being developed by Anchor Grup in Romania will reach 800m euros in the coming years, with half of these investments underway or already finalised.
The real estate developer, which owns the shopping centres Bucuresti Mall and Plaza Romania, will focus on Bucharest and develop housing projects and office buildings, after the mall market is becoming crowded.
"We don't have any plans to develop a new shopping centre in Bucharest. Instead, we have several housing projects, still in the design phase, which include two projects located in sector 3, and two office buildings," stated Ibrahim Paksoy, a CEO with Anchor Grup.
The number of shopping centre projects in Bucharest has seen a significant increase in recent years, so that by 2011 the capital city may have as many as 20 malls, including the two shopping centres owned by Anchor.
Besides the two malls, Anchor Grup's portfolio also includes Anchor Plaza office building (completed last year), and other projects that are still under construction: InCity Residences housing complex, a mall in Chisinau, Shopping Malldova, and Anchor Plaza Metropol office building, whose construction started last year.
All these projects, together with another three housing complexes and an office building that will be erected close to Bucuresti Mall, entail investments worth around 780m euros, say Anchor Grup representatives.
In fact, the Turkish-held company is one of the most important landowners in Bucharest, and boasts a portfolio that covers a total area of around 2 million square metres in the capital.
The company's most recent project is Anchor Plaza Metropol, which will be developed on Timisoara boulevard in Bucharest.
"The office building is located 200 metres away from Plaza Romania. Construction works have already started, and the building is scheduled to be delivered in the second half of 2009," stated Paksoy.
The 12-storey building will have a lettable area of 33,600 square metres and involve investments worth around 50m euros. Anchor Grup representatives estimate around 3,000 people will eventually work in the building.
Anchor Plaza Metropol is several hundred metres away from another future shopping centre, AFI Cotroceni Park, scheduled to open in the second quarter of 2009. The first office building finalised by the Turkish company has a lettable area of around 26,000 square metres.
Anchor Grup has been present in Romania since 1997, and is one of the most important real estate developers in Bucharest. The company's portfolio includes some of the most coveted properties on the market.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
