ZF English

Alexandra Books: Our business is affected by mall postponements

13.11.2008, 19:12 11

According to representatives of the Alexandra group, one of the most extensive bookstore networks in Hungary, which operates a bookstore in a shopping centre in Buzau, their business is affected by postponements in the opening of the shopping centres in Oradea and Suceava, where they will have stores, and that their investment will take longer to recoup than initially scheduled. "We had scheduled to open the stores by the end of this year. A series of postponements seem to have occurred at Galleria in Suceava and at Tiago in Oradea, which are affecting our business. We are now taking into account a realistic scenario, which, unfortunately, doesn't overlap with the optimistic one," said Iren Arsene, manager of the Romanian subsidiary. The Galleria shopping centre, developed by Globe Trade Center in Suceava, will be opened in early February, according to Magda Gibney, asset manager of GTC Romania. Originally, the mall was planned for opening at the end of this year. In turn, Northern Irish real estate developer Mivan has put off the opening of its first mall outside Bucharest, Tiago Oradea until spring of next year.