RED takes financing from Immorent for 8m-euro project

Sunday, December 13th, 2009

      Real estate developer RED Management Capital, owner of Armonia Center in Braila, which was closed last summer, has obtained financing from Immorent Romania, a subsidiary of Austrian group Erste, to complete construction of Cadran shopping centre in Husi (NE Romania). The project developed in Husi will include 20 stores, among which a Penny Market supermarket, whose inauguration is set for June this year. “The investment in the project amounts to eight million euros and we want to develop similar projects in several towns across Romania because we believe there are over 100 towns throughout Romania that can absorb such an investment,” said Christian Hiver, leasing manager within RED.

Source: Ziarul Financiar, 13.01.2010
http://www.zf.ro/zf-english/red-takes-financing-from-immorent-for-8m-euro-project-5317544/

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