First three Galleria malls, to open by September

The first three Galleria shopping centres developed by Globe Trade Center (GTC) on the local market, in Buzau, Suceava and Piatra Neamt, will be opened by September this year, being the only malls to be opened by the network in 2008. The Israeli company, listed on the Warsaw Stock Exchange, has announced plans for a shopping centre network in Romania, with the developer targeting the cities of Bucharest, Galati, Bistrita and Arad. The Galleria shopping centres are small, 10,000 to 15,000 square-metre lettable area each, with the exception of the development in Bucharest, designed for around 60,000 square metres. The investment in each of the provincial malls amounts to around 20 million euros. Galleria Buzau, the first project of the network, will, by the end of this year, become a competitor for the Aurora Shopping Mall developed by Dan Ostahie.