Equest to invest €45 mln in a retail park in Ploiesti

“We already acquired 80,000 square meters in Ploiesti and hope to finalize the project within 18 months,” said George Teleman, Partner at Equest Investments Romania. The company paid €12.5 million for the land.

By the end of 2009, 1.8 million sqm of commercial space will be built in Romania, tripling the available stock. Equest opened the Vitantis Shopping Center in Bucharest last week. The company has also invested over €60 million in a 33,000 sqm retail park.

Equest is owner in Romania of the Equest Logistics Center, which includes 11 hectares of land where the company plans to invest €34 million in logistics and office space. Equest is spending €16 million on the building of a parking lot in Bucharest. The company’s total investments in Romania were worth €116 million at the end of last year.