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Israeli company buys land in Romania's Piatra Neamt for housing

A subsidiary of Aura Investments has won a tender to buy land in the Romanian city of Piatra Neamt, the capital of the Neamt region in northeast Romania, which is south of Bukovina.

The Israeli company will be paying €2.65 million ($3.6 million), for the land, on which it means to build 550 apartments. Piatra Neamt has 110,000 residents. This is Aura Investment's third project in the town. One is residential and one is a shopping center, part of the Galleria brand, which it's establishing throughout Romania. Aura has previously stated that it has resolved to expand its residential construction efforts throughout eastern Europe. The company is presently building 1,650 apartments in Romania and Hungary and hopes to reach 3,000 this year. (haaretz.com)