Joseph Seroussi enters real estate market with a project in Balotesti

Seroussi is diversifying his activities, after the recent drop in the clothing business, which led to a stoppage of one third of his production, due to a deficit of employees and an increase in production costs.

“Decisions concerning the project’s structure and the start of construction will be made this summer. In principle, we intend to build a complex of villas, but we might also have multi-story buildings,” said Stelian Sevastita, General Manager of J&R Enterprise, in a statement for Business Standard. He did not provide details about the value of the investment.

Joseph Seroussi came to Romania in 1965, starting his business ten years later, in 1975, and now controls the Ikos Conf and Norada (Odorheiu Secuiesc) and Serconf (Bucharest) factories.