“The money we have just received will be reinvested in our ongoing projects. To date, we have received over €100 mln of the contract,” George Margescu, CREAM’s Managing Director, told Business Standard.
Cefin owns 250 hectares of land nationally, which it intends to keep and develop at the request of potential clients. “As far as the land is concerned, we are not interested in selling, because there is no market. We are looking for end users for whom we will build on the land we have, possibly in partnerships,” Margescu said.
According to the latest reports, Cefin’s developments on the industrial segment have a value of €396 mln, with residential constructions worth €76 mln, and office projects valued at €238 mln, while the land is estimated to be worth €200 mln.
