RomReal to sell a part of its land portfolio
RomReal, the Norwegian-British real estate developer wants to sell a part of the 130 ha of land owned in several areas of Romania, in order to insure their cash flow.
In order to easily find buyers the company started the division of land in smaller plots.
„We are actively looking for buyers for a part of the plots we own in order to improve the company’s cash flow until the recovery of the market. Obtaining the financing is one of the difficulties of the Romanian market and considering this aspect the board of our company is currently changing the zonal plans for several plots in Constanta to divide them into smaller units.“, a RomReal report shows.
RomReal representatives consider that the smaller plots situated in good areas could attract buyers with limited finances. The lands in RomReal portfolio have areas between 4,000 sq. m and 865,000 sq. m. (source: zf.ro)