Anchor Grup, the developer of the Plaza Romania and the Bucuresti Mall, will invest approximately 60 million euros in building two residential complexes.
“The projects include construction of more than 800 flats that are located close to the two malls,” stated Ibrahim Paksoy, general manager of Anchor Grup.
The real estate developer has also announced its arrival on the office space market with a 25 million investment.
“Anchor Plaza will provide luxury facilities on a 33,000 square metre surface area, in a part of Bucharest whose development is in full swing,” Paksoy said.
The building comprises three blocks of flats (ground floor plus 12 floors). Work on Anchor Plaza started in July 2005, with rentals available as of this month. The first tenants will apparently start to move in as late as October.
Anchor Plaza”s constructor is BA Constructii, while the architectural concept was provided by the Istanbul-based B Design Architecture. Anchor Grup developed its first real estate project in the capital city in 1999, when it completed Bucuresti Mall, the first mall-type shopping centre in Romania. It completed its second project, Plaza Romania in 2004, with investments in the two complexes amounting to 100m euros. The two malls were built on the location of two deserted structures that were supposed to become retail outlets before 1989 in the Vitan and Lujerului areas. The company bought the two as a bundle for 6m euros.
Bucuresti Mall”s total surface area is over 50,000 square metres and the complex required an investment of 33 million euros for construction. Plaza Romania, the biggest mall on the domestic market, is twice as big as the Bucuresti Mall and entailed approximately 45 million euros in investments, funded through a loan taken out from HVB Bank. Its officials say Plaza Romania is the first shopping complex that arranged special parking spots for bicycles.