Sonae Sierra posted a net profit of €3.6m for 2013. The international shopping center specialist attributes the jump to an increase in consumer confidence, says Fernando Guedes de Oliveira, the company’s CEO. Sonae Sierra in partnership with Caelum Development started construction on ParkLake Plaza in Bucharest last year. The shopping center represents an investment of €180m and is scheduled to open in 2016. The investors signed a contract with SBR Soletanche Bachy Fundatii that will carry out the first stage of work. Once completed, it will offer 70,000 sqm of space.
