Italian IGD to invest EUR 12.5 mln in modernizing Winmarkt retail chain in Romania

Retail centres operator Winmarkt, which runs 15 shopping centres in 13 Romanian cities, plans to spend some EUR 12.5 million on modernizing its chain in the country until 2015. The investments will also target expanding the leasable areas, and optimizing the visitor flow in the centres. “Our strategy is to prepare the portfolio and increase its potential, under the new market conditions and for the years to come,” said Antonio Di Berardino, CEO Winmarkt. So far this year, EUR 5 million were invested from the company's own funds. In the following 12 months, its shopping centres will welcome 6 new openings following the reorganization of space, in order to cater to international retailers. The chain, controlled by Italian IGD - Immobiliare Grande Distribuzione, had a turnover of EUR 11.3 million in 2012, and a net profit of some EUR 5.8 million. In the first half of 2013, the company had a turnover of EUR 5.3 million, and an average traffic of 2.6 million visitors a month across its Romanian network. IGD, listed on the Milan Stock Exchange, owns some 88,000 sqm of gross leasable retail space in Romania via Winmarkt, and hosts tenants such as Carrefour, Billa, dm drogerie markt and H&M (in Buzau, in picture). Its centers are located downtown several Romanian cities: Alexandria, Bistrita, Braila, Buzau, Cluj-Napoca, Galati, Piatra Neamt, Ploiesti, Ramnicu Valcea, Slatina, Tulcea, Turda and Vaslui. IGD, with a portfolio of some EUR 1.9 billion, owns 19 shopping centres and retail parks, and 19 hypermarkets and supermarkets in Italy. editor@romania-insider.com