The real estate division of RTC group, controlled by businessman Octavian Radu, plans to invest in excess of €50 million in the next three years in several real estate projects in Bucharest and the central city of Sibiu.
This year, it started construction works for a residential complex in Sibiu.
“Our plan is to inaugurate one real estate project each year. Besides the Sibiu project, we are to build a 14-story block of flats and an office building, both in Bucharest, but we also have investment plans for Sibiu,” the real estate division’s Manager, Mariana Radu, said.
The project currently under construction, Theresianum, will include 120 apartments and will require investments worth €7 million. The residential complex is to be finalized in 2009. Prices are between €800 and €870 per sqm, VAT not included.
