- Argo Real Estate Opportunities Fund, the closed-ended investment company formed for the purpose of investing primarily in the commercial property markets of Central and Eastern Europe, is to acquire two shopping parks in Romania.

They are the ERA Shopping Park, Oradea, and the ERA Shopping Park, Iasi.

David Clark, Chairman, AREOF commented: "Once this transaction is complete, we will have added another two quality retail park shopping centres in the cities of Iasi and Oradea in Romania, ensuring that AREOF is the largest listed retail property company operating in Romania. This aligns with our ongoing commitment to become the dominant developer, owner and operator of international-quality retail parks and shopping centres in Romania and the surrounding regions.

"We expect the Romanian property market to catch up with that of Western Europe, benefiting both the business and shareholder value in the long term. The resultant increase in scale of the business following the transaction should also assist in raising the profile amongst investors seeking exposure to the region."

At 12:23pm: [LON:AREO] share price was -0p at 0.04p

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