“We are very interested in acquiring a plot of land in Bucharest. We are targeting three to four lots in the capital but, unfortunately, the market is blocked. There still are large pieces of land in the city, former industrial platforms that can be converted into mixed projects: commercial and offices or commercial and residential,” Merica said.
In 2006, upon entering the local market, the company announced it was interested in acquiring ten large plots, of three to five hectares, where it can develop shopping centers with an average investment of €100 million per unit.
Merica said that the real estate market, currently blocked, could revive with the help of banks, which should speed up the separation of toxic loans from healthy ones. He added that central banks should carry out a serious assessment of the exposure of local banks on the real estate segment.
