Real estate investment fund NEPI and Carrefour's real estate arm, which are developing the Ploieşti Shopping City shopping center, have received a EUR 26 million loan from BRD to finalize the shopping center.

The total investment in the center is of EUR 65 million, with BRD covering 40 percent of the total, making it one of the biggest real estate financing agreements this year, after a period when real estate funding has all but dried up.

The center should be complete by the end of this year, with the opening for the public set for November 2012, after work started end 2011.

The Ploiesti shopping center, which is being developed near the current Carrefour stores, will cover some 55,000 sqm of leasable area and have 100 stores.

editor@romania-insider.com

(photo source: Carrefour)