| |
        
|
 Address:
13, Charles de Gaulle Square, 011857, Bucharest, Romania
© 2008 Avrig 35. All rights reserved. Avrig 35 refers to the member firms of Avrig 35 Group, each of which is a separate and independent legal entity.
|
|
 |
News
|
back
DEGI took over Iris commercial centre in Bucharest
Deutsche Gesellschaft fur Immobilienfonds (DEGI), part of Aberdeen Property Investors Group of Scotland, has signed an agreement with Avrig 35 group of companies to take over the Iris shopping centre situated in the Bucharest Titan borough, for EUR 147 million, according to a press release issued by the two companies. The centre will be integrated with DEGI Europe Retail real estate fund specializing in shopping centres in Europe. The Iris mall in Titan has a lettable area of 48,000 square metres and 2,000 parking spaces. Avrig 35 invested about EUR 70 million in developing the complex, according to company representatives. Anchor tenants will include Domo, Sprider, Takko, Reno and Olympic Casino. ‘Romania is one of the countries with the fastest growth of consumer expenses in Central and Eastern Europe. Modern retail will have to gain from this growth’ DEGI President Barbel Schomberg stated in a press statement. The Iris hypermarket and shopping gallery are let under long-term lease agreements to French retailing chain Auchan as well as to other relevant operators, the rent being paid in EUR. The contracts will hedge investment against inflation risks, the press release further reads. In the mid 2007, the group of companies Avrig 35 was running 17 real estate projects in a total value of over EUR 500 million in Bucharest, Suceava, Piatra-Neamt, Focsani, Constanta, Satu Mare, Arad, Timisoara, Brasov and Pitesti. The group owns over 35 companies operating in constructions and property development in the residential, commercial, office and industrial space segments. The sale is the biggest transaction to involve a shopping centre in Bucharest, after the 2006 takeover of the City Mall project by Australian-held APN/UKA, a deal worth 103.5 million euros.
|
|
 |
|
|
|
 |
Avrig 35 Group
Avrig 35 Group was established in 1999 by four American investors. Since its inception the Group has grown to become one of the leading real estate developers in Romania. The company draws upon the extensive experience of its owners and employees to approach ambitious projects in different sectors of the Romanian market. Our ability to deliver exceptional services and value to our clients derives from the strength of our investment analysts and construction professionals working together towards a common goal.
details » |
 |
|
|
|
|
