EUR 160 mil. in a real estate project in Popesti Leordeni, near Bucharest

This summer, Negoita brothers, owners of Pro Confort group of companies, plan to start the development of a real estate complex in Popesti Leordeni area. The value of the investment reaches approximately EUR 160 mil. 25-30 % of the amount will be supported by bank loans.

The project will cover a land of 10 ha and will be completed within 3-4 years.

At the same time, Negoita brothers cancelled for an unknown period the hotel projects announced to be developed in Pipera and at the seaside. Moreover, two floors of Rin Grand Hotel will become office spaces.

Sursa: Bloom Biz [16.04.2009], Wall-Street [17.04.2009]