Dragomir, 61, owns 5,000 square meters of land on the banks of Pantelimon lake just outside Bucharest. The investment will be carried out through the companz of his son, SC Bodu SRL, and his residen- tial complex associates will be other land owners in the area. "We want to build a unique neighborhood, as far as size and architecture are concerned," he said. The complex is to be built over 15,000 sqm, with villas completed in four years. Dragomir and his partners plan to sell the houses, although these will also be available for rent.
Dragomir will borrow the funds for the construction from Piraeus Bank, which he uses for all his businesses.
The soccer league president has made several real estate investments. He built 16 villas on land he bought four years ago for USD 50,000 in one of Bucharest's semi-central areas, Barbu Vacarescu, with the total investment worth €5.2 million. Dragomir sold five villas, recouping almost half of the investment, and decided to rent the remainder saying that "this is more profitable." Dragomir and his son have also invested some €8 million in a residential building in the semi-central Sebastian area. "We are constructing studio and one or two bedroom apartments... We want to see how profitable it is to build for people with limited means," Dragomir told Business Standard. The building will have 150,000 apartments and should be completed in one and a half years.
In addition to real estate, Dumitru Dragomir is also investing in the hotel industry. He already owns the four-star Crystal Palace Hotel in northern Bucharest. He is currently negotiating the purchase of 2000 sqm of land in downtown Bucharest to build a five-star hotel, "more luxurious than the Crystal Palace."
