Greek toy retailer pays EUR 5 mln for plot in Romania

Greek toy retailer Jumbo has bought a 34,000 sqm plot near Pitesti from real estate company Rolast Pitesti, with EUR 5 million. It plans to open a store there. The Jumbo network currently has five units in Romania, which produced revenues of EUR 17.7 million and a profit of EUR 4.3 million between July 1, 2014, and March 31, 2015. By the end of the year, the company will open two stores, in Ploiesti and Pitesti. At the end of 2014, Rolast sold retailer Auchan several assets with EUR 19.9 million. The real estate company expects in 2015 a rental income of almost EUR 100,000, compared to EUR 3.6 million in 2014. Rolast has a market capitalization of EUR 4.1 million. editor@romania-insider.com