Owners of the first two malls in Bucharest see 43m euros in revenues

Turkish-held Anchor Grup, owner of the first two malls in Bucharest - Bucuresti Mall (Vitan district) and Plaza Romania (Drumul Taberei) - collected 42.8 million euros last year from operating the two shopping centres, which are among the projects boasting the highest sales on the Romanian market.

Revenues rose by around 7% against 2008 despite the fact that retailers' sales were weaker and competition tightened.

"The growth came both from the opening of the new wing in Plaza Romania (inaugurated in February 2009), and from the fact that our strategy provides for a gradual, yearly boost in rental fees," Ibrahim Paksoy, general manager of Anchor Grup, told ZF.

He did not specify the value of sales made by tenants of the two shopping centres, but admitted they were lower in 2009 than in the preceding year, as was the number of visitors. Considering a level of rent of 10-15% of the sales value, retailers of the two malls could have a cumulated business of 200-250 million euros per year.