Anchor ups InCity apartment price by 50 percent, plans expansion of Plaza Romania mall

The first phase of the project, totaling 250 apartments, has already been sold, and sales have started for the second phase at the new price.
Anchor Group, also the owner of the two Bucharest-based Bucuresti Mall and Plaza Romania, plans to start the refurbishment and expansion of Plaza Romania in the second half of this year, with an investment of EUR 10 million.
The mall will get a new wing, which will be smaller than the wing added to Bucuresti Mall last year. The extension will be completed in 2008 and is set to become operational in 2009, according to the developer, quoted by local media. Plaza Romania currently features 41,000 sqm of lettable area.
InCity Residence is being developed with a EUR 68 million investment and will be delivered in the first part of 2009. The project, located near Plaza Romania mall, consists of four buildings of 17 floors and delivers 92,000 sqm of built area.
With the two Bucharest-based malls, two more office buildings to be built in the capital and a commercial center planned for the Moldavian capital Chisinau, the Turkish developer will reach EUR 780 million in investment volume in the region by 2009.

Magda Purice