Dawnay, Day properties estimated at 70m euros

The Romanian properties held by the British investment fund Dawnay, Day, four plots which will house malls (in the cities of Arad, Cluj-Napoca, Baia Mare and Satu Mare), and the Macromall shopping centre in Brasov were estimated to be worth 70 million euros at the end of 2007, up by around 10% compared with the purchase value, according to the company’s annual report. Dawnay, Day entered the Romanian market in the summer of 2006, after taking over the Macromall shopping centre in Brasov for 16.6 million euros, currently worth 17.1 million euros, a 3% increase. Later, the UK group became partners with the developer of Atrium Centers, in order to buy three plots together, with a view to building shopping centres. “Last year, the company acquired four plots to build shopping centres in Romania, for a total cost of 37.3 million pounds (47.3 million euros). Current plans target the development of a total area that covers over 150,000 square metres, with a value of over 300,000 million pounds (380 million euros) upon completion,” according to company data.