News (RO): Global City, City Mall

Global City gets planning in Floreasca
The investment fund Global Finance is to begin a 73,000 sqm office and residential project located in Floreasca. Bucharest’s city hall has approved an urban planning permit for the scheme, which will include a trio of residential high rises ranging from 15 to 20 storeys, along with a separate office building. The Greek-based developer is also considering the resumption of work on its residential project Global City in the Pipera district of Bucharest sometime next year.
City Mall auction fails again at 3rd attempt
A third attempt to auction off the troubled shopping center City Mall in Bucharest has failed, despite the lowest bid offering being lowered to €26.5m. The initial price was €33m, but this failed to attract any bidders. The mall’s primary creditor UniCredit bank is reported by ZF to have an outstanding loans of €30m.

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