The company purchased some 22 hectares of land in Romania for €35 million. Dimri will develop a residential project including 3,600 apartments in western Bucharest, called Dimri Gheancea Allegro. Construction works began about six weeks ago and first stage is scheduled for completion in September 2010, said Ygal Dimri, the company’s General Manager and founder. The price will be €1,100 per square meter. The complex will also include office spaces, a shopping center and parking spaces.
Dimri was founded in 1989 and is listed on the Tel Aviv stock exchange since 2004. The company is also operating in the Czech Republic and Georgia. Among its local competitors are Globe Trade Centre, also from Israel, and Romanian developer Tiriac Imobiliare.
