Austrian investment fund Immoeast, the most active player on the local real estate market, will develop a network of 8-10 shopping centres in partnership with the European Future Group (EFG), following a total investment estimated at 300 million euros, announced Immoeast. The investors intend the logistic centres to reach a total lettable area of 400,000 - 500,000 square metres, which means that every project is to have an average lettable area of 50,000 square metres, with a value of the investment standing at around 30 million euros. The first logistic project, in partnership with the EFG developer, will be carried out in Bucharest, in the Pantelimon area, where a plot of land has been acquired, with a surface area of 105,000 square metres. The Pantelimon Warehouse will be developed on this site, and entail an investment of 35 million euros.
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