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MallDova Shopping Center

Shopping Center MallDova receives €42.8 million loan from EBRD

Author(s):Press Office
Date:19 August 2008

Showcase real estate development will introduce new shopping experience to Chisinau

Consumers in Chisinau will be able to enjoy a whole new shopping experience with the opening of Shopping Centre Mall Dova, the first large format retail and entertainment complex in Moldova.

The centre is being developed by Lemi Invest and supported by the EBRD with a €42.8 million loan. It is the EBRD’s largest private sector transaction in Moldova to-date. Total investment cost will be €56 million.

Shopping Centre MallDova will open this autumn and will be the first commercial centre of international standard in Chisinau, the capital of Moldova. It will provide international and local retailers with first class-outlets to offer their goods and services to consumers.

Libor Krkoska, EBRD head of office in Moldova, said: “This is the largest EBRD private sector financing in Moldova to-date and therefore of special importance to us. This mall will be the first such development in Moldova, bringing an entirely new experience to the people of Chisinau.”

Tomasz Bartos, EBRD senior banker in charge of the project at the bank, added: “This project will set high quality standards in terms of modern retail and entertainment complex design, construction and operation. We are very pleased to have teamed up in this transaction with Erste Bank, to which half of our loan has been syndicated”.

Ali Capa, board member of Lemi Invest, said: "We are very happy to see that an international financial institution such as the EBRD is sharing our positive outlook for the Moldovan market. By attracting one of the largest project financing in Moldova, Shopping Centre MallDova is proving to be a success that is recognised at an international level. We believe that this project will be a milestone in real estate development and financing in Moldova. This investment demonstrates our long term commitment to Chisinau, creating value for the local community.”

MallDova will be the most modern retail complex in Moldova. Planned on four levels with approximately 25.000 square meters gross leasable area the shopping centre will house more than 100 shops, a supermarket on 2300 square meters, a multiplex cinema with six screens, interactive electronic games, bowling and a children playground and various other entertainment facilities.

With more than 90 stores dedicated to fashion, accessories and services combined with five large anchor tenants, including a supermarket, Shopping Centre MallDova will be the largest and prime retail destination in Chisinau. Unique architectural features will ensure a rich and varied shopping experience in which international brands will feature alongside domestic favorites.

Lemi Invest is the developer of Shopping Center MallDova. The company is a joint venture of Leogrant, one of the largest real estate developers in Republic of Moldova and Anchor Group, part of Fiba Holding group of companies. Fiba Holding has expertise in retail, financial services and real estate development and is active in 14 countries worldwide.

Last updated 19 August 2008

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