Spanish Prasa and Detea invest €450 mln in Constanta Project
The Spanish companies intend to develop a mixed-use project, consisting of office space, hotel, retail centers and residential units, with a built surface of approximately 380,000 square meters.
The investment amounts to €450 million ($604 million). Construction works will start in early 2009. Detea Group entered the Romanian market in 2005 with three of its four divisions: real estate, energy and environmental, and agricultural. The group’s investments in Romania will amount to €680 million ($914 million), according to a company announcement. Detea Group’s portfolio includes projects in Spain, Portugal, Ukraine, Mexico, Chile, Poland and Argentina and its assets are estimated at over €1 billion. Grupo Prasa is present in Romania since 2005 and its portfolio includes projects in Europe, South America and North Africa. (bursa.ro)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.