EnglishMiller Developments, part of UK-based real estate enterprise Miller Group, intends to set up a 1 billion EUR investment fund by the year-end. The fund will be dedicated to investments across Europe, Romania included, according to the online edition of The Scotsman, quoted by NewsIn.
"We are prepared to invest in long-term projects, too, to some extent," said CEO Phil Miller during a visit to a company project in Hungary. Miller Developments has built commercial centers in Germany, Portugal, Romania and Spain and could do similar projects in Greece, Malta and Bulgaria.
In Romania, the company bought the Magnolia Center in Brasov for 20 million EUR in 2006. The 19,000 square meter shopping center is Miller"s first investment in Romania. Similar projects have been implemented in the UK, Portugal and Hungary for some 1.5 billion EUR.
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