€100 million is the initial capital of Liebrecht & wooD’s closed-end investment fund which will invest in its projects in Poland, Russia and Romania. Recently, the developer has paid €30 million for 60 hectares of land around Bucharest. Additionally, in 2009, the company signed an investment contract for a project called “UNIA”, a 50,000 sqm commercial and office project in the centre of Warsaw.

Liebrecht & wooD is one of the few investors going against the tide and buying land when the majority of developers suffer from the financial crisis and hold back their projects.

Liebrecht & wooD who has been present on the Polish market for 15 years and on the Romanian one for 10 years, and is continually active on the real estate market despite the economic slowdown. In Poland it is extending Flanders Business Park, is a co-investor of the Warsaw-based complex UNIA, has finished the extension of the Gdańsk-based Fashion House Outlet Centre and just started the construction of the 50,000 sqm retail park called “Morski Park Handlowy” in Gdansk.

In Romania, Liebrecht & wooD built and then sold the Bucharest-based Militari Shopping Centre and Victoria Park office complex for nearly €80 million.

“In November we bought 60 ha of land located in the surroundings of Bucharest. Our plans regarding this place mostly concern commercial projects and the construction of a new outlet centre, this time on the east side of Bucharest as an alternative to the already existing West Park that was finished last year,” commented Marc Lebbe, Liebrecht & wooD’s Managing Director.

The company is also planning to invest in the dynamically developing Russian market. During MAPIC 2009, Fashion House Development, a joint venture between Liebrecht & wooD and GVA-outlet services presented two new outlet projects, which will be constructed in Moscow and St. Petersburg. These will be the first outlet centres (30,000 sqm each) on this market.

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