Romanian electro-IT retailer Altex, controlled by businessman Dan Ostahie, bought a hectare of land in the corporate district Pipera in northern Bucharest, just across the street from its headquarters, Profit.ro reported.

The company plans to use the land for building its largest store. The land, located between the former Gelcap Voluntari drug factory and the eMAG headquarters, was put up for sale by Eurobank several years ago.

The most recent sale price of the land was EUR 3.9 mln. Altex Romania has now bought the 10,000-square-meter lot and has already designed a shopping center with a built-up area of about 5,800 square meters, spread over two floors, which will house the largest Altex store.

(Photo: Yukniphotoshot/ Dreamstime)

andrei@romania-insider.com