Property in Romania

Golf course in Romania

The Swiss Golf & Leisure Development company, a joint venture established by five persons from Switzerland and Romania, is investing in a real estate project with an estimated value of 50 million euros, informs daily Business Standard on June 23.

The project includes an 18-hole golf course, a driving range, and 350 homes in the western Dragomiresti Vale area, near Bucharest. Company representatives said the project would also include a hotel with a minimum of four stars. The complex will be completed in 2010.

Prince Dimitrie Sturdza, promoter of the project, said the total investment in the golf course amounted to 5.6 million euros. Swiss Golf & Leisure Development was established in 2006, and the majority share package is owned by Radu Chiriac, a Romanian architect living in Switzerland.

This is the second real estate project with an 18-hole golf course, the first being that of the Silver Mountain, developed by INR Management in the central Romanian resort of Poiana Brasov.

Date posted: July 22, 2008