The two investment funds already acquired a 60 million lei plot of land belonging to a former public transportation facility. This has a total length of 95,000 square meters.

The buildings constructed by the two developers will total 380,000 square meters. The projects will start being drafted this fall while constructions should start at the beginning of 2009.

Grupo Prasa broke into the Romanian real estate market in 2005 and its portfolio comprises of real estate projects in Europe, South America and North Africa.

Detea Group became active on the Romanian real estate market the same year as Prasa. The company said the amount of investments made in Romania should top 680 million euros.