EnglishItalian company Immobiliare Grande Distribuzione (IGD), owner of retail chain Winmarkt saw the value of its Romanian real estate assets drop 6.2% YOY in 2009, to EUR 187.6 million. "We have experienced a 6.2% drop in the market value of our Romanian properties, which reflects the strong impact that the economic difficulties had on consumption and on the valuation of real estate assets", the 2009 financial statement of IGD states, as quoted by Mediafax. The company said that its revenues in Romania increased by EUR 3.2 million last year. Winmarkt"s portfolio includes 15 retail centers and an office building. Its Romanian retail centers had an occupancy rate of 77.5% in 2009 and a market value of EUR 183.5 million.
The Italian company states that it has signed long-term commitments with the Carrefour, Domo and MiniMax Discount chains to expand its portfolio and improve the quality of its revenue streams. IGD acquired Winmarkt in April 2008, for EUR 182.5 million.
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