ZF English

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

25.03.2010, 17:29 10

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

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

"The growth came both from the opening of the new wing in PlazaRomania (inaugurated in February 2009), and from the fact that ourstrategy 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 twoshopping centres, but admitted they were lower in 2009 than in thepreceding year, as was the number of visitors. Considering a levelof rent of 10-15% of the sales value, retailers of the two mallscould have a cumulated business of 200-250 million euros per year.

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