Engel launches 3rd Romanian project

Last month, the company entered the Romanian market with a mixed retail and housing project and followed that up a week later with another residential and commercial project that was expected to generate NIS 450m. in sales.

By AVI KRAWITZ
August 17, 2006 07:52

 
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Real Estate company Engel Group launched its third development project in Romania inside a month after it purchased three adjacent lots of land in the capital Bucharest, the Ran'anana-based company said Wednesday. Engel plans to develop apartment buildings on the 55,000 sq.m.-space with some 550 units. Engel forecasts the project will bring in sales of NIS 340m. once complete. Last month, the company entered the Romanian market with a mixed retail and housing project and followed that up a week later with another residential and commercial project that was expected to generate NIS 450m. in sales. The group is also examining projects in other Eastern European countries in which it is already active.

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