Since March, several other tenants have gradually ceased their activity in Galleria Suceava.
The first mall under the Galleria brand was opened in Buzau in September 2008. In the spring of 2009, it was inaugurated the Galleria mall in Suceava, following an investment of EUR25 million. The Galleria mall in Piatra Neamt was opened at the beginning of September 2009, following an investment of EUR20 million and the fourth Galleria mall was opened in Arad in 2011.
GTC’s four shopping malls in Romania were evaluated at EUR84 million at the end of 2011 and their value decreased by EUR12 million to EUR72 million in the first six months of 2012. The four malls stretch onto a total surface of 69,000 square meters and have an occupancy rate of 89%.