Immoeast to freeze EUR 2 billion projects
22 September 2008
Austrian developer Immoeast plans to freeze some of the real estate projects worth EUR 2 billion it had announced, including those in Romania, in order to secure liquidities, the company said.
Announced projects total EUR 4.4 billion. Projects already in construction will be completed, but others will be cancelled, including delayed projects, the company said in a press release. The decision followed the company's poor financial results, analysts said.
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