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Israeli fund invests 40 mln. euro in Constanta Mall

Luni, 20 februarie 2006, 0:00

An Israeli investment fund has started construction works at a mall in the Romanian Black Sea port of Constanta, according to Israeli newspaper Globes. The total value of the Poalim Real Estate investment amounts to over 40 million euro, while the works are due to finish in 2007.

Constanta Mall will cover 55,000 square meters, 35,000 of which is commercial space. It will provide for 1,000 parking lots.

Poalim Real Estate representative Amir Avis says the trade complex in Constanta is the most important of the 13 projects the Israeli company currently develops.

Poalim Real Estate is a USD 300-million private investment fund focused mainly on real estate operations in Israel and Eastern Europe.

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