Societe Generale builds shopping centre in Bacau

Real estate developer Sogeprom, a subsidiary of French group Societe Generale, the main shareholder of BRD, is in the process of designing and authorising a shopping centre in Bacau, which will be developed in partnership with another French company. "We will develop a project in Bacau, the plot has been bought recently, but I cannot say more for the time being, because the project is in an incipient stage," Thibault Mesnard, who is part of the Sogeprom Romania team, told ZF. This is a common move for the big banking groups present on the market, considering that real estate divisions of companies such as Erste, Raiffeisen, ING and Volksbank are active on the Romanian market, as well. The company has established an office in Romania, managed by Olivier Marteau, whose aim is to develop shopping centres, office buildings and housing facilities, both in Bucharest and in the rest of the country, according to the company's website.