The most important asset is a 3,000 sqm land on Nordului Road from Bucharest, near Herastrau, one of the most expensive residential areas in Bucharest. The deal also included another two plots, one in Voluntari and the other on Theodor Pallady Blvd., as well as two apartments on Fabrica de Glucoza St. Lufin Construct, a company controlled by the businessman Victor Badescu, is the same as the constructor for Upground project, one of the assets of Papalekas in Pipera area. In January 2012 the company became insolvent, despite the fact that in 2009 its turnover had reached over 100 million euros. (source: zf.ro)
Businessman Ioannis Papalekas acquires new properties for 5 million euros
Businessman Ioannis Papalekas, the buyer of City Mall and Tower Center International , properties in severe financial difficulties, has finalized another similar transaction from the insolvent company Lufin Construct.
