Dimri to invest EUR 500 million in residential projects
18 September 2008
Dimri International real estate company, local subsidiary of Israeli Y.H. Dimri, plans to invest EUR 500 million in the next five years in residential projects, the company said.
Dimri will develop a residential project of 3,600 apartments in western Bucharest, called Dimri Gheancea Allegro. Construction works began about six weeks ago and first stage will be completed in September 2010, the company’s General Manager, Ygal Dimri said. The price will be EUR 1,100 per square meter. The complex will also include office space, a shopping centre and parking spaces.
Dimri was founded in 1989 and is listed on the Tel Aviv stock exchange since 2004. The company is also operating in the Czech Republic and Georgia. Among its local competitors are Globe Trade Centre, also from Israel, and Romanian developer Tiriac Imobiliare.
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