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Shafir Engineering to build 3,000 apartments in Eastern Europe

The company will finance the projects with proceeds from its NIS 150 million ($37.5 million) IPO in Romania and Serbia.

Sources inform Globes that Shafir Civil & Marine Engineering Ltd. has entered the residential construction market in Eastern Europe, where the company is already building infrastructure projects. The company plans to finance the housing projects with proceeds from its NIS 150 million IPO. Shafir Engineering is building an infrastructure project in Romania worth hundreds of millions of shekels. The company took the strategic decision to expand its business in Europe and to begin building residential projects, with the first projects in Romania and Serbia. (globes.co.il)