According to the group’s Communication Manager, Matthew Proskine, one of the projects which could be launched in 2009 is the construction of three box retail shopping centers in Bucharest.
The company began the construction of a real estate project worth €50 million in 2008, called Avrig 7 Business Center, which will include two office buildings with seven and nine stories, each, to be finalized this fall. The group also started a second project last year to construct a 12-story luxury apartment building, with 65 apartments, expected to be finalized in this year’s second quarter.
The projects will be partly financed from funds obtained as a result of the sale of 18 properties to the British New Europe Property Investments (NEPI) company, for €46.3 million.
