Plaza Centers sold a 1,200 sqm plot in Ploiesti for €200 per sqm. The developer had financed its original purchase of the land with a loan, and the funds generated from the sale of land were returned to the bank.
Plaza Centers has been selling off a series of land plots, in fact. The company recently sold some plots to buyers such as the German group Intercora, DIY retailer Dedeman and to the supermarket chain Lidl.
An agreement to buy and develop properties together with Aura Investments fell through last year, leading to a decision to divide the properties and sell them off. Aura Investments took over three of them, while Plaza Centers took over four others.
