The company abandoned the idea of acquiring land from the Zarea alcoholic beverage producer, due to the excessive price. “We presently have only one piece of land in Bucharest, in the 13 September area, after deciding to forego the contract with Zarea,” said Cristian Badoiu, Director for Romania of the Spanish company, quoted by Mediafax.

Realia entered the Romanian market at the end of 2007, taking over Parnu Real Estate for €12.2 mln. The company’s main competitors are Globe Trade Centre, Baneasa Investments, and Tiriac Imobiliare.