Fulga Dinu, head of Eurohypo’s Bucharest office, indicted that over half of the projects were developed in Bucharest.
Outside Romania’s capital, the bank specialized in real estate and project financing, provided loans for projects in Timisoara (27 percent of total), Cluj-Napoca (11 percent), and Iasi (7 percent).
“We did not focus only on the Bucharest area, and in addition to retail space, we also finance office and industrial projects,” added Dinu.
Speaking about the evolution of the Romanian retail market, the Eurohypo representative indicated that in the coming three-five months, both banks and developers and investors will be very reserved in terms of future projects. “In this period nothing will happen, everybody will wait to see what is to come. Probably at the end of this period and after the international financial crisis calms down money will continue to come to Romania – a market with potential,” said Fulga Dinu.
“This year, we awarded loans worth €100 million, about one third of last year’s level, and by the end of the year things will not change significantly,” believes Dinu.
Eurohypo’s most important financing on the Romanian market, of €242 million, went to the developers of the Iulius Mall commercial centers.
