Austrian real estate company Raiffeisen Evolution is currently negotiating to sell the Promenada shopping center in Bucharest, according to market sources, quoted by Mediafax.

The mall was opened about a year ago in the Floreasca area of Bucharest and needed EUR 130 million in investment. The owner has shortlisted five offers for the mall, including GTC, which owns the City Gate offices and a chain of Galleria malls in Romania, as well as Greek investor and serial real estate buyer Ioannis Papalekas.

Raiffeisen Evolution however would like to sell for over EUR 150 million, and the sales contract would also include a EUR 95 million loan to Raiffeisen Bank.

The sale of the mall would come after the two adjoining office buildings, including Sky Tower, were sold to Raiffeisen Group.

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