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Aura adds to Romanian properties

Aura Investments of Ramat Gan continues to expand its presence in Eastern Europe, announcing on Monday that it plans to construct a 1,550 residential unit on a 51-dunam lot in the city of Brasav, Romania.

Aura has invested some NIS 725 million, or 75% of the total, while its partner company in the venture, the Brown-Adam Group, put up the other 25%. Aura expects revenues of some NIS 1.1 billion from the sale of the residences. The company began constructing residential buildings in Eastern Europe in 2006 and has built 3,500 units in cities in Romania and Hungary. (jpost.com)