Property in Romania

Tiriac and Riofisa bring 10m euros for new project

Goldale Limited, a company of the Tiriac group and the Spanish developer of real estate projects Riofisa Internacional have increased the share capital of Goldale Real Estate by almost 10 million euros, according to data from the Official Gazette.
This move is meant to partly cover the funding of a commercial project developed in Timisoara.
Over the past year, Spanish real estate companies have bought a lot of land in the Capital, as well as other big cities, to develop real estate projects, according to players operating in the real estate field. Spanish investors are interested in the potential the Romanian market has compared with the Spanish market.

Date posted: July 3, 2006