Aura sells out Galleria Arad to GTC
ARAD Israeli developer Aura Investments has sold its 15 per cent share of the Galleria shopping centre in Arad to developer GTC, which becomes the sole owner of the project due to be ready in Autumn 2011 March 2011 - From the Print Edition
GTC is still partnering with Aura in projects Galleria Buzau, Galleria Suceava and Galleria Piatra Neamt.
In the beginning of 2010, Aura Investments sold 37 per cent of shares in several shopping centres across Romania to GTC.
The 70 million Euro Galleria Arad includes 33,000 sqm gross lettable area and is 60 per cent rented, including tenants such as 9,000 sqm Cora Hypermarket, Flanco Electronics and Pure Fitness.■
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