Europe's biggest apparel retailers, H&M and Inditex, aregoing to open six stores in Unirea shopping centres of Bucharestand Braşov, controlled by Adamescu family, by late April.
The centres, operated through Unirea Shopping Center company, lastyear generated revenues worth 86.5m lei (20.5m euros), down 10%,according to the data the company's representatives sent ZF.
Adamescu family and businesspeople Gabriel Popoviciu (BăneasaShopping City) and Iulian Dascălu (Iulius Mall) are the onlyRomanian investors annually deriving revenues worth above 20m eurosfrom shopping centre operations, a business that has contracted inrecent years amid the crisis and dwindling consumptionappetite.
Unirea Shopping Center reached 1.4m-euro gross income last year,according to company data.
To better adapt to market conditions, where real estate developersare coming up with modern malls and international tenants, 10% ofthe spaces in Bucharest and Braşov Unirea projects, namely around6,000 square metres, are currently being fitted out for the openingof the 6 stores to be operated by Inditex and H&M, with annualturnover worth above 10bn euros each.
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