Cefin to continue real estate projects in Romania
10 October 2008
Cefin Real Estate Asset Management (CREAM), part of the Italian Cefin group, plans to continue with its real estate projects in Romania, without selling land owned locally to obtain liquidity, said Geo Margescu, Managing Director of CREAM.
''We will not sell land to refinance other projects, as other developers have done, but rather will establish partnerships with various developers or construction companies for some of the lots, as we have already done in Galati with Globe Trade Centre [Ed. n. GTC and Aura Investments is developing a Galleria commercial center in Galati),'' said Margescu.
The company plans seven residential projects in Romania, in Sibiu, Targu Mures, Suceava, Timisoara and Iasi, as well as two near Bucharest, in Tunari and Sabareni.
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