The companies plan to build 200 apartments in the city’s Militari district.
Aura Investments Ltd. (TASE:AURA) and the Baron Adam group have bought a 3.5-acre site in the Militari district in Bucharest for €2.4 million (NIS 15 million). The companies plan to build a 200-unit residential project on the site, from which they expect sales proceeds of NIS 105 million.
Aura owns 75% of the joint venture and Baron Adam 25%.
Aura is currently building 1,850 apartments in several projects in Romania and Hungary, and recently announced plans to expand its business in Kazakhstan.
Published by Globes [online], Israel business news - www.globes.co.il - on May 27, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007