Carrefour signs with RED for hypermarket in Trident Plaza Constanta

This is the third such partnership between RED and Carrefour, after the two leasing contracts in Armonia Arad and Braila, signed earlier this year. Carrefour will thus open its second hypermarket in Constanta, the opening being scheduled for the beginning of 2009. Trident Plaza, developed by RED and owned by Austrian investment fund Immoeast, is worth over EUR 100 million and will total over 130,000 sqm. The complex comprises a shopping mall, two office buildings in partnership with World Trade Center, and a four-star hotel featuring 250 rooms. Trident Plaza is being developed by RED through two special purpose vehicle now in Immoeast's portfolio: Harborside Imobiliara and Harborside Hotel. RED is a real estate developer active in South-East Europe, with a focus on Romania. Its main shareholders are investment funds GED Group from Spain and US-based Warburg Pincus. RED is managed by businessmen Teodor Pop and Andrew Stear. It has so far announced more than EUR 400 million projects around the country.

Corina Saceanu