Raiffeisen Vienna lends EUR 95.5 mln for Promenada Mall
Raiffeisen Bank International is extending EUR 95.5 million of financing for the construction of Promenada Shopping Center in the Floreasca area of Bucharest, a project developed by Raiffeisen evolution February 2012 - From the Print Edition
The development will have a rentable area of 35,000 sqm and will be structured on four levels, including 120 stores and 1,300 underground parking spaces.
At the end of last year, Raiffeisen Evolution announced the completion of the sale of SkyTower office building in Floreasca City to Raiffeisen Property International GmbH, which is part of the Raiffeisen Bank International AG (RBI) group. The Romanian affiliate of RBI, Raiffeisen Bank SA, will set up its new head office in Bucharest in the block.
According to Raiffeisen Evolution officials, after the completion of construction works at the beginning of 2013, the lender will relocate to SkyTower, where it will occupy floors two to seven, and Floreasca Office, the seven-floor building located close to the tower.
In the immediate vicinity, Raiffeisen Evolution is constructing its retail project Promenada Shopping Center. The total investment in Floreasca City was estimated at EUR 250 million. The design project started in 2005 and the construction permit was obtained in 2008.
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