Property in Romania

The Rothschild family enters the Romanian real estate market

The Rothschild banking family officially entered the domestic housing market last week in a deal worth 104 million euros for a 60 percent stake in three housing projects, which are controlled by the Israeli owners of Euro Habitat, the developer of Planorama project in Colentina.

The three projects are located in Ploiesti, Brasov and Bucharest’s Colentina district, and will include approximately 8,000 houses, in the wake of investments expected to amount to almost one billion euros.

“The deal, valued at 104 million euros, was sealed on Monday evening, in Piraeus bank’s Carol Boulevard headquarters. The three projects will be developed under a different brand, which will be made public next year, when works begin and the projects are launched,” Haim Zemer Tov, CEO at Euro Habitat and a stakeholder in the three projects.

Date posted: December 10, 2007