Immoeast's portfolio increases six-fold

By the end of October 2006, Immoeast had a portfolio of 21 properties, with an estimated value of €970 mln.

In the coming three years, Immoeast will invest some €1.5 bln in real estate projects, while the budget to close forward-purchase transactions is almost €181 mln.

The most important project for 2007 was Polus Center Cluj, purchased for €210 mln. Immoeast also acquired Polus Center Constanta for €185 mln and the S-Park office building in Bucharest for €101.5 mln. The fund took over Euromall in Pitesti from a group of Israeli and French investors for €87 million. The Baia Mare Gold Plaza was purchased from Hungarian company Futureal for €97 mln.

Immoeast will develop a shopping center network in major Romanian cities and will build 8-10 industrial parks, with estimated investment value at €300 mln.