The company’s assets in Romania reached EUR 156.5 million, below the City Gate value in 2013, reports local Mediafax.


The two malls are now worth only EUR 8 million, compared to over EUR 35 million in 2013.


The portfolio decrease comes from lower future rental incomes, due to the high number of new office buildings to be delivered in 2016, according to the developer’s financial report. (source: