Gea Prasa: real estate market to revive in 2009

Gea Prasa is developing the Laguna Residence project in northeastern Bucharest. "The local residential market is almost in a deadlock. Potential buyers are scared, but the fear is not caused by the real estate market, but by the storm of information from abroad. Too many bad news come upon us every day and the financial crisis has an impact on Bucharest," Ordás Diéguez said.
However, he added, there is no real reason for market deadlock, "it's only lack of trust and panic." 

The company plans to launch a new residential project in Bucharest next year. It will include 2,000 apartments for the middle class, worth a total €300 million.