Radu Dimofte and Gabriel Popoviciu, through Practic, Meteor and Universal, Siminel Andrei and Broadhurst, through Romarta, Alain Bonte, shareholder of Generalcom and Raluca Petcu, through Romconsulting, control more than 1,000 street front stores in Bucharest, approximately half of this market, real estate consultants asked by ZF say.
The market of retail space is put at more than 1 million square metres in Bucharest, though concrete information is lacking and the main players would not provide details.
Judging from the existing information, this market sees about 20 million euros in rents every month.
"Practic SA (BSE: PRBU) is a publicly listed company on the RASDAQ secondary market and operates in full compliance with the regulations in force in this field. As such, we cannot provide any information, figures or other details that could be taken as statements about the company's business." This was the answer of the representatives of Practic SA company when asked by ZF to provide details about their portfolio.
The company is controlled by businessman Radu Dimofte (48.47%) and an offshore firm - International Business & Trading Corp. and is a significant owner in such quarters of Bucharest as Drumul Taberei and Militari. It posted 6.6 million euros in revenues in 2008 and 1.9 million euro profit.
The most important players on the market of retail space in the centre of Bucharest are Meteor SA and Universal SA, held by Weybridge and Wellkept Properties, in turn controlled by Radu Dimofte and Gabriel Popoviciu, according to existing information. These firms control many retail spaces in areas such as Calea Dorobanti, Calea Victoriei, I.C. Bratianu or Magheru Boulevards, where rents stand at 80-90 euros/square metre per month, real estate consultants say.
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