The amount obtained by the two from the Hungarian Ablon group has been estimated by real estate market analysts, who consider that the value of the project and land is some €3.5 million.
“The project involved the construction of an 11,000 square meter office building, for an investment of some €15 million. We sold the project this year to a Hungarian group,” said Eram, who did not wish to disclose the identity of the buyer or the value of the transaction. Eram added that the sale of the project is unrelated to international financial market problems.
In July, the Ablon Group, which has projects worth over €500 million in Romania, announced it had acquired 1,840 sqm of land in Bucharest’s Sector 2, and obtained a building permit for an office block whose constructed surface will be 11,000 sqm.
