Imotrust to build residential district in Arad for EUR 3 million
The real estate developer Imotrust Arad (ARCV), controlled by the businessman Alexadru Bercea, will develop a residential district in Arad on over 12 ha. The plan for the next three years includes the construction of 100 houses for EUR 3 million and to supply its clients with 180 plots of land.
Imotrust representatives have declared that the district addresses the young families with average incomes and that the infrastructure and parcelling works will start in approx. 3 months.
The clients will also have access to approx. 180 plots of land for building homes, with areas between 250 and 600 sq. m. The first homes will be available in spring 2014.
Imotrust did not communicate its financial results for 2012, but in 2011 the revenues from exploitation reached 15.1 million lei with a loss of approx. 0.7 million lei. (source: zf.ro)