The two parks currently have a cumulated rentable surface of 80,000 sqm. Argo also holds Shopping City Sibiu and Shopping City Suceava, which have a total rentable surface of 129,000 sqm. As such, the fund will own projects cumulating a surface of nearly 210,000 sqm in Romania.
Romania’s second-largest shopping center owner will be Iulius Group, owned by businessman Iulian Dascalu, whose malls in Iasi, Cluj, Timisoara and Suceava have a total surface of 175,000 sqm.
Argo’s assets in Romania were evaluated by Colliers at some EUR340 million. Argo has a market value of EUR15 million.