The company is about to start a real estate project worth €300 million and has a €100 million budget to buy land countrywide for further real estate projects. The first project, Smart City, is be developed in Northern Bucharest and will include office spaces and apartments.
The company is operating on the local market since 2005 and is active on real estate leasing, special leasing, real estate development and construction services segments. Immorent plans to increase turnover by 52 percent this year.
Leasing contracts signed by Immorent this year total €120 million, VAT not included, while assets were worth some €55.7 million at the end of H1 2008. The company’s main competitors on the local real estate market are Premiumred, Raiffeisen Evolution and Tiriac Imobiliare.
