Thursday, March 27, 2008

Polish-listed developers increasingly interested in Romania, consultantJones Lang LaSalle says

WARSAW. MARCH 25. INTERFAX CENTRAL EUROPE - Romania is becoming an
attractive investment location for Polish-listed developers active on the central and eastern European markets, according to international real-estate consultant Jones Lang LaSalle.

"Romania is seeing quite a lot of new availability," Jones Lang LaSalle
analysts told a press conference. "Investors are getting quite comfortable on the market. Developers such as [Globe Trade Center] GTC or Plaza Centers are quite active on that market, especially in retail." Romania noted an overall investment volume of EUR 2.2 bln in 2007, up 144% on the previous year. Some 15% of this volume was invested in real-estate.

GTC owns some 48,000 [square meters] sqm of office space in Romania, 136,000 sqm in retail space and 283,000 sqm in residential space. Some 40% of GTC's activity centers on the Romanian, Bulgarian, Croatian and Serbian markets. Plaza Centers is currently running seven commercial projects in Romania with a total floor space of 750,000 sqm. Jones Lang LaSalle attributed the interest in Romania mainly due to its entry into the EU.

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