Will Immoeast finance a second mall in Baia Mare?

The structure of the Gold Plaza mall in Baia Mare has been
completed, with Futureal and Immoeast, which are developing this
project together saying the inauguration of the 97 million-euro
shopping centre is set for September next year. The mall will be
developed by Hungarian-held Futureal, but Austria’s Immoeast is set
to become owner of the project when it is completed. On the other
hand, Imooeast committed to financing and to buying a second
project in Baia Mare, Radius, developed by RED Management Capital,
where work has yet to start. “I am almost certain we have managed
to keep other developers at bay. We think this mall will cover the
city’s needs for the next five or ten years. Moreover, banks are
not currently interested in funding other projects,” said Gabor
Futo, CEO and shareholder of Futureal, when asked whether Immoeast
would finance the construction of another project in the city.
Immoeast officials attending the Gold Plaza structure
completion-related event declined comment on the issue.