Anchor Grup refinancing

The loan is the first major operation of Eurohypo in Romania and one of the largest on the local real estate market.

Anchor Grup's Financial Manager, Ali Capa, said the group is to obtain extra financing worth €100 million to develop two new Class A office buildings in Bucharest.

"We are very optimistic regarding the development of the Romanian real estate market, which is growing at a very fast pace. This is especially true in the retail and office building segment, where we have a source for further deals," Eurohypo representative in Romania, Fulga Dinu, said.

Anchor Grup entered the domestic market in 1999, when it developed Bucuresti Mall, the country's first mall. The company has invested €340 million in projects to date, some still under construction. Besides the two malls, the Turkish group also owns Anchor Plaza, an office building located near Plaza Romania, and is currently developing the InCity Residences complex.

Anchor Grup plans to invest a further €200 million in Romania in the next five years and will focus on office buildings, residential complexes and commercial centers, for which it has already acquired some 1 million sqm of land.