Property in Romania

IUE Leader Imobiliare to build residential complex

Spanish company IUE Leader Imobiliare purchased a 4.3-hectare plot of land on Lujerului Street in Bucharest, previously owned by Electrotechnica, for which it paid 30.6 million euros.
The Spanish will use the land, located near Plaza Romania shopping centre, to develop a residential complex comprising 1,200 - 1,500 apartments, which will entail an investment amounting to some 70-75 million euros.

The plot was purchased from Winmarkt Alfa firm, whose partners are the companies Winmarkt SA, Bucuresti Alfa Center and TEC Administrare Afaceri.

Winmarkt SA manages 17 shopping centres, with a rentable area of over 115,000 square metres, in 14 cities.

Date posted: January 3, 2007