RRD to invest €45 million in its first Romanian project

“We are engaged in advanced negotiations to acquire a piece of land outside of Bucharest, hoping to conclude discussions soon, in order to obtain building permits in the second quarter, and begin construction in the fall,” according to a declaration for Business Standard by EMCT Romania’s General Manager, Michael Richard.

Richard explained that the mall will include commercial and entertainment areas, as well as a number of movie theaters, covering some 40,000 sqm available for lease, and the estimated value of the investment is some €45 million.

EMCT Romania’s General Manager did not comment on the location of the project, saying that RRD will make an official announcement in June. Last fall, RRD representatives announced that it was discussing the acquisition of a piece of land in the central Romanian locality with Brasov City Hall.

Euro Mediterranee Consulting (EMCT) came onto the local market in 1998 and is carrying out two projects, Sun Plaza Bucuresti and Siret Plaza Galati.