TriGránit takes over operation of Romania properties from Immoeast

Deals

Hungary’s TriGránit, one of the biggest construction companies in the region, has agreed to take over the operation of three shopping centers in Romania from Austrian property developer Immoeast, which owns a 25% stake in TriGránit, business daily Világgazdaság reported on Friday.

Immoeast wants TriGránit to operate all of its properties in Romania, Világgazdaság wrote. Among Immoeast’s holdings in the country are shopping centers and office buildings. Property operation is not a new area of business for TriGránit. In 2006, the company signed a Ft 1.8 billion ($11.5 million) contract to operate the László Papp Sport Arena in Budapest.

Romania is among the two most important markets for TriGránit in the construction business, COO Sándor Nyúl told Világgazdaság. “Purchasing power is growing at a steady rate, which requires bigger and bigger properties,” he said. (MTI-Econews)

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