“We decided to build a residential complex in Bucharest, with a top price of €1,100 per square meter,” said Turcu.
The price is 25 percent less than the current market price. “We plan to build ten-storey buildings with 4,000 one-to-four-room apartments. The total investment will amount to some €300 mln. The profit margin will be 8 percent at most,” Turcu added.
Turcu said that he is attempting to attract a bank or an investment fund to the project, but does not exclude the possibility of investing with other business people.
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