“Any retail project in 2009 or 2010 outside Bucharest is out of the question, because it is too risky. It is more difficult to convince retailers to go outside Bucharest,” EMCT’s General Manager, Michael Richard, told Business Standard.
The developer ended in 2007 a partnership with the Dutch Redevco enterprise, with whom they plan to develop a mall chain at national level.
EMCT and Sparkassen will focus this year on finalizing the Sun Plaza project, which requires a €200 million investment. Some 85 percent of the mall has been leased to date.
