Poalim is a subsidiary of the largest financial group in Israel, Hapoalim. The Neocity Group bought NeoPeninsula at the beginning of 2006, and made a 133 percent profit from this sale.
NeoPeninsula will expand in eastern Bucharest. The complex will include over 2,700 apartments and 3,600 parking spaces, a park, playgrounds, a commercial area, a private beach, tennis, football and basketball courts, a swimming pool, restaurants, coffee-shops, and a kindergarten.
Total investments of Neocity Group Romania on the Romanian market amount to €280 million, and the market value of the developed projects is €1.15 billion, according to data supplied by the company, which announced €1 billion worth of investments for 2006-2009. The Israeli fund focuses on real estate projects in Israel and Eastern
Europe. In Romania, Poalim owns several residential complexes, and a mall in Constanta to be finalized this summer, following a €50 million investment.
