Lorand Szarvadi to invest at least €20 mln in Sfantu Gheorghe residential project

Businesman Lorand Szarvadi, founder of the Domo retail chain, which was taken over last year by Equest investment fund, announced he will invest at least €20 million of his own funds to build some 200 homes in the Central Romanian city of Sfantu Gheorghe, in Covasna County.

“The project will begin next spring, at the earliest,” Szarvadi said. He sold 75 percent of Domo to Equest for €75 million last year. The project’s total surface is 11.69 hectares. Szarvadi also plans to develop a real estate project near Bucharest, where he acquired a piece of land for €20 mln.