Portuguese company Sonae Sierra, which entered the Romanian market in May by taking over the River Plaza mall in Ramnicu-Valcea for 42 million euros, has acquired land in order to develop another two shopping centres - in Ploiesti and Craiova, under investments worth 293 million euros. The Ploiesti-based mall will be built on a 16-hectare plot and will have a lettable surface area of 64,070 square metres, with the investment estimated to be worth 153.6 million euros, according to a company announcement. In Craiova, the Portuguese acquired a project (Craiova Mall) already started by Greek companies Elmec and Alesonor. Elmec and Alesonor completely withdrew from the Craiova Mall deal, after a 40 million-euro transaction, sources revealed. "Sonae Sierra will build its own project based on the initial design," sources added. The investment in the Craiova project will amount to 139.4 million euros, and will have a lettable surface area of 55,537 square metres. The Greek companies were assisted in the transaction by the law firm Rares Dan & Asociatii (Rares Dan & Partners), while Sonae Sierra was assisted by Nestor Nestor Diculescu Kingston Petersen (NNDKP) and by real estate consulting firm Eurisko. Vitor Nogueira, business development manager of the Portuguese company, had said several months ago that Sonae Sierra aimed to be among the top three players on several of its real estate markets, which includes Romania.
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