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Unirea Shopping Center to fetch EUR 70 million loan for investments

The company owning commercial centers in center of Bucharest and Brasov, Unirea Shopping Center plans to contract a loan worth EUR 70 million to be used for investments, the company announced.

2014-05-06 10:56:54

Part of investments takes into account development of access to link the commercial centers to the main transportation routes, the subway in Bucharest and the railway station in Brasov. Also, the company shareholders think of expanding the entertainment areas of the two commercial centers.

For Unirea Shopping Center in Bucharest, the plans involve refurbishment of a space of 1.200 sqm for renting to companies such as MAC, Wolford or Tchibo. The company runs talks with Inditex for new leasing contracts. Also, H&M will start the design to their new shop expansion at the send level of the commercial center in Bucharest.

In 2013, Unirea Unirea Shopping Center achieved a turnover of EUR 17 million, 8 percent down compared to 2012, and a net profit down by 51 percent to near EUR 638.000. The company is owned by Romanian Dan and Carmen Adamescu by 74.16 percent shares, through The Nova Group Investments Romania with the rest being owned by SIF Muntenia (SIF4), cu 10 percent, while 15,8 percent of the capital is owned by other investors.



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