Bucharest’s City Mall could be turned into a hospital

After it went bust in 2010 and was bought back by Greek investor Ioannis Papalekas at the end of last year, City Mall could be turned into a private hospital, CBRE representatives have disclosed this Wednesday.

“There are market sources saying that City Mall could be converted into a hospital. If this decision is taken, it will be a challenging project, given the structure of the mall,” said James Heyworth Dunne, head of capital markets at CBRE Romania.

Papalekas bought back City Mall at the end of last year for EUR 17.3 million after he sold it in 2006 to APN European Retail in 2006 for EUR 103.5 million.

City Mall went bankrupt in November 2010 after accumulating debts worth EUR 76 million.

Simona Bazavan

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