Immoeast postpones or cancels projects in Romania worth €2.4 bln

Romanian projects make up the largest share of postponed or cancelled projects in Immoeast’s portfolio internationally.  The report for the 1 August - 31 October 2008 period shows that Immoeast’s Romanian portfolio includes 80 properties, with leasable surface exceeding 2 million square meters, and an estimated worth of slightly over €1 bln.  As such, the number of projects dropped by from 134 reported in the May-July 2008 period to 80, not counting those that have been postponed or cancelled.  By the end of July, the market value of the 13 projects was estimated at €3.44 bln.