SIF Banat-Crisana sells former Filan factory land in Bucharest

SIF Banat-Crisana sold about 3 ha in Bucharest to Kaufland and Lidl, which plan to develop a retail park on the land. The German retailers paid roughly €12m for the land, approximately 60 percent more than the fund investment paid for the property in 2019. The land used to house the former Filan factory. The planned retail park will include a Kaufland hypermarket and a Lidl store. The transaction will be completed once the building permit is secured. The deal comes shortly after SIF Banat-Crisana paid €40m for the acquisition of the IMGB industrial platform.