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Real estate developer Belrom is planning to invest up to 450 million EUR in Romania by the end of 2010. Among others, the company will build a retail park in Bucharest - Colentina. "We have started several projects in Romania, but so far we have only finalized the retail park in Sibiu. It was sold to North Real Estate Investment Fund for 83 million EUR. The initial investment was 50-55 million EUR. The second retail park, located in Targu Mures, will be finished on October 24th. A shopping mall will complement the Media Galaxy, Baumax and Auchan stores there. The investment amounted to 60-65 million EUR, the park having 40 hectares," said Belrom representative Carl Decoopman.
Belrom is planning to develop another three or four retail parks in Bacau, Braila, Focsani and Deva in 2008 and three in Ramnicu Valcea, Drobeta Turnu Severin and Botosani in 2009. Nonetheless, the most significant project will unfold in Colentina, a part of Bucharest where Belrom has bought 60 million EUR worth of land and is prepared to invest another 40 million in buildings. Belrom is 80% controlled by three Belgian partners: Carl Decoopman, Steven Vanden Bedsche and Hendrik Danneels.
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