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Articles - real estate developments

Real estate investments aimed by Globalworth in Romania

Globalworth, a company controlled by the businessman Ioannis Papalekas, active for 15 years on the real estate market in Romania and SEE invested EUR 72.6 million in real estate projects on the local market and has cashed out form these investments EUR 341.4 million (investments in 2001-2009). Currently the company has 10 investment objectives on the local market, including developing an office complex in Pipera and the acquisition of the office building occupied by UniCredit Tiriac Bank.

Papalekas took EUR 144 million from London for local market investments

Businessman Ioannis Papalekas, one of the most active investor in the local real estate market in the last years, attracted EUR 144 million on London Stock, funds to be used for investments, including for buying the office building UniCredit HQ in Bucharest.

QFort invests EUR 25 mln in a residential project in Craiova

Stefan Cherciu will invest EUR 25 million in a residential complex with 235 apartments about to be built in central Craiova. Stefan Cherciu owns Casa Nostra, manufacturer of Q-Fort thermal insulation systems.

Former GTC Romania’s head founded its own real estate development company and develop new office building in Bucharest

Former head of the real estate developer GTC Romania Shimon Galon founded a company together with several friends and former employees of GTC, which will deal with the development of its own real estate projects, but also for other investors.

Epstein will invest EUR 40 million in total in Romania

Epstein owns projects worth of EUR 40 million in Romania currently in development, a similar level to the one reached last year. One of the contracts the American construction firm has on the roll is a new factory, where Aversa will relocate in the future.

Portland Trust, in negotiations with Italy’s Nusco for a plot in Floreasca area

Portland Trust will no longer expand the office complex Floreasca Park, investment which should have been carried out on a plot owned by the businessman George Becali, though the company intends to buy a plot in Barbu Văcărescu – Floreasca area from the Italian group Nusco, for another office project.

EUR 40 mln real estate project to be built on the grounds of former Grivita brewery in Bucharest

Kiseleff Development wants to build a EUR 40 million real estate project on the grounds of the former Grivita brewery in downtown Bucharest and over the ‘next period’ it will begin works to clear the site, announced today representatives of Element Development, the project’s developer.

Korona Mall Braşov, postponed again

Construction works for Korona Mall in Braşov will not start this year, as scheduled.

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