Ozer invests €100 million in real estate

In 2008, consolidated investments will reach some €27 mln, up from over €18 mln year-on-year. Total investments in 2009-2010 are estimated at over €100 mln, of which 80 percent through the Ozer Construction branch.

Over 35 percent of total investments come from own sources, with the rest through financing, according to Deputy General Manager of Ozer Construction, Ileana Stanciu.

The Romanian branch contributes some 50 percent to the consolidated turnover of the group, which amounted to €57.8 mln last year. Estimates for 2008 indicate an advance in consolidated business of at least 40 percent, to over €81 mln.

As entrepreneur, Ozer Construction is participating in projects such as Multigalaxy Office Building, Oxford Gardens (150 villas in the northern Bucharest Pipera region), Felicity (1,200 apartments in northern Bucharest), while as project manager, in partnership with EFG, it is overseeing the development of Bucharest’s northeastern Pantelimon region logistical parks, as well as in a mixed office, trade and residential area in the northern Jandarmeria region. As investor the company has been developing the Belleview Sinaia residential project since the beginning of last year, worth €25 mln, which will include 344 vacation apartments covering 36,000 square meters.

In 2008, Ozer Construction will invest €15 mln in the construction on 5,300 sqm in the northern Bucharest Aviatia region of a luxury residential complex with some 150 apartments.

In addition to the Europa House and America House office buildings, Ozer Construction has also built the Efes Pilsen beer factory in Pitesti.