Baneasa project, already at 10% of the 1.2bn-euro target

Baneasa Investments, owned by the University of Agricultural Sciences and Veterinary Medicine of Bucharest (USAMVB) and a group of firms controlled by businessmen Gabriel Popoviciu and Radu Dimofte announced that 10% of the project entailing 1.2 billion euros in investments had been completed. “Next week will be the official opening of the Carrefour Feeria hypermarket and of the shopping gallery, which will include some 70 stores and will cover a surface bigger than that of Orhideea,” said Michael Lloyd, representatives of the investors involved in the project. He said that the first Ikea store in Romania would be opened in this retail centre some time this year. Lloyd added that the Swedish group would make an official statement on the matter in “the weeks to come”. “The real estate market has become very dynamic. Big projects are being conducted, with ever-heftier investments. The prices are rising and such announcements (projects) are made almost every week,” Lloyd added. The company also announced that it had signed strategic partnerships with Alpha Bank Romania and with RomTelecom to fund the purchase of homes and to create telecommunications infrastructure respectively. ZF