News Article Bucharest investment land retail Romania
by Property Forum | Investment

SIF Banat - Crișana has agreed to sell approximately 3 ha of land at the site of the former Filan factory in the Pantelimon district of Bucharest to German retailers Kaufland and Lidl for about €12 million, reports. This sum is 60% higher than what the fund paid for the property in 2019.

A new retail park is planned to be constructed on the plot which will include a Kaufland hypermarket and a Lidl store. The transaction will be completed once the building permit is secured.

This is not the first major investment deal by SIF Banat - Crișana in the recent period. Back in October, the company acquired the 540,000 sqm IMGB industrial platform in Bucharest.

Banat - Crișana Financial Investment Company is a Romanian legal entity, incorporated as a joint-stock company with wholly private capital and operates as a closed-end investment company with a diversified investment policy and is authorized, regulated and supervised by the Financial Supervisory Authority (ASF). SIF Banat - Crișana is self-managed and since March 2018 is authorized by ASF as an administrator of alternative investment funds (AFIA).