As regards land prices, Hoeksma added that these have become more reasonable lately and the offer is rising.
ING’s real estate development division has been operating on the local market since November 2007 and is focusing on residential and retail projects. Earlier this year, company representatives said they planned to attract at least 5 percent of ING RED’s budget to Romania, totaling €12 billion, meaning projects worth at least €600 million in the coming three to four years.
