7 million Euros - the first project of "Oasis Development" of 2011

• The over 60 projects by "Oasis Development" amount to more than 800 million Euros

"Oasis Development", one of the largest retail developers in Romania, yesterday launched the first project which was completed this year - the commercial gallery "Family Center" of Râmnicu Vâlcea. Created together with "Real4You Immobilien", the center represents an investment of about 7 million Euros, according to the representatives of "Oasis Development", who said: "The < Family Center > concept of commercial galleries relies on bringing in a mix of tenants that offer products and services which meet the needs of the entire family, all in a central, easily accessible location. So far, the < Family Center > chain includes three such commercial galleries, located in Botoşani, Giurgiu and Râmnicu Vâlcea. The built surfaces of the galleries range from 3,500 to 5,000 square meters". "Family Center" has a total surface of almost 3,500 sqm.

"The inauguration of the new < Family Center > represents only the beginning for the year 2011. < Oasis Development > plans to develop six projects, in 2011, set to be delivered in 2012, and an investment budget of over 80 million Euros. We are also interested in finding new central locations for our future projects", said Klaus Reisenauer, a partner with "Oasis Development".

The engine behind this new growth is the increasing demand from discount tenants, who are currently looking at a full expansion process, as the number of available central areas to rent are limited, said Kurt Wagner, a partner with "Oasis Development", who stressed that "the market is recovering and this is obvious all across the retail sector".

"Oasis Development" has over 60 projects it delivered all across the country, which have a total surface of over 1.5 million sqm of land, with the value of the investments exceeding 800 million Euros.

The current portfolio of the company includes more than 200,000 sqm - retail areas still under construction and territorial development.

Ever since 2002, "Oasis Development" has been a partner of German companies "Kaufland" and "Plus" (Lidl) in Romania, for which it developed over 50 locations.