"Banks have to survive, although their resources are lower, they will have to choose serious developers. It is true that negotiations will take a bit longer and conditions will be more severe, but I cannot see why banks that already signed contracts for ongoing projects should give up financing," said the CEO of AFI Europe developer, Reuven Havar.
During the "Focus: Real estate market in 2008" seminar organized by Business Standard, Havar said the retail market is not undergoing a crisis currently, but problems could appear on the longer term. "We are strongly involved in the retail market, but we had no negative impact, although rental prices are not low. In the past few months, higher construction costs made us slightly increase rents," he added.
According to Havar, Romania is one of the best places countries in Eastern Europe and the market here is to be less impacted by the crisis than neighboring states and to recover the fastest. (G.S.)
AFI: Banks will only lend money to major clients
Publicat la 29.10.2008, 10:18:00
Acest articol nu reprezintă consultanță financiară.
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