Euromall developers to build 1,000 apartments

Two months ago, developers of the Euromall shopping centres acquired an almost seven-hectare plot nearby Baneasa airport, in the Northern part of Bucharest, on which they intend to build around 1,000 apartments soon. ” The land cost almost 30 million euros and we intend to build luxury apartments over the entire area. Currently we are in the design stage of the project, and in the next phase will ask for the necessary consents to begin construction,” Moshe Turgeman, general manager of Euromall told ZIARUL FINANCIAR. The company has four shopping centres currently under construction in Pitesti, Galati, Ploiesti and Craiova, and this is its first project on another segment of the real estate market. “We believe the market will be saturated with shopping centres by 2010-2011, so we intend to expand our interests on other market segments, where there is still the potential for development.