Anchor Grup: We could use a strategic partner

Ibrahim Paksoy, CEO of Anchor Plaza, says he has lost track of the number of investors who have shown an interest in the company’s Romanian projects.
The two shopping centres Bucuresti Mall and Plaza Romania , as well as the Anchor Plaza office building, all of which are held by the Anchor Grup, have been some of the most sought after properties on the local market. However, for the time being, the developer’s representatives rule out the possibility of any sales.
“We could afford to take out more credit, and we don’t need a liquidity infusion. However, we could benefit from a strategic partner,” says Paksoy in an interview with ZF.
The Anchor Grup representative is reluctant when it comes to forecasting the value of properties held in Romania, and argues that yield estimates vary from one investor to another. “Since 2005, we have had monthly meetings with investors who are interested in our projects, even with companies that have yet to enter the Romanian market, but, considering the credit crisis, it is not the right moment to give up these properties,” says Paksoy, CEO of Anchor Grup for Romania since the beginning of 2004.
After the completion of Plaza Romania mall in 2004, Anchor Grup diversified its portfolio to include office buildings and residential projects, with InCity Residences project and Anchor Plaza, an office building located close to the Plaza Romania mall.
This year, the company started to build a second office building in the same area – Anchor Plaza Metropol, which is scheduled for completion next year.
Anchor Plaza accommodates 3,000 people, the majority of whom use the facilities available at Plaza Romania. As for Anchor Plaza Metropol, it will accommodate almost 4,000 people, which will also boost the number of mall visitors.” The advantages are mutual, whilst the presence of malls next to office buildings is expected to become more important in the future,” adds Paksoy.