Meanwhile, Euroinvest Intermed is investing in the Grand Arena project, which will be built south of Bucharest.
The project will require EUR 187 million in investment, and will be opened towards the end of this year. The developer expects to break even on the investment in 15 years.
The two-storey shopping mall will be anchored by a Carrefour hypermarket and a Flanco World unit. The investment in the Carrefour unit reaches EUR 20 million, while the Flanco World unit will need EUR 1.5 million.
Euroinvest Intermed is a construction company which is active in several Eastern European countries and China. The Romanian subsidiary is owned by Stonewall Marketing, registered in the Virgin Islands, and by Lucien Harfi, with ten percent of the shares. He also acts as general manager of the company.