Israeli group Plaza Centers, which owns the Radisson Blu hotel in Bucharest, has sold a plot of 32,000 sqm in Timisoara, reports local Ziarul Financiar.
In 2015, the group received the permit to build a shopping center on that land, whose anchor had to be Auchan. However, the project didn’t go through.
The information on the plot’s sale has been published on the London bourse, where the buyer’s name hasn’t been mentioned. The French group Auchan has bought the plot, according to market sources. The deal is estimated at EUR 7.25 million.
Plaza Centers officials said that the buyer prefers to remain anonymous.
This could be the second largest transaction for Auchan in Romania in the last year. The retailer bought the former Automatica platform at the end of last year, together with One United. It will develop a mixed-use project there, including a shopping center.