RTC to invest EUR 50 million in real estate projects
29 September 2008
RTC group's real estate division plans to invest over EUR 50 million in real estate projects in Bucharest and Sibiu, in the next three years, the company said.
''Our plan is to inaugurate one real estate project each year. Besides the Sibiu project this year, we plan to build a 14-storey block of flats and an office building, both in Bucharest, but we also have investment plans for Sibiu,'' the real estate division's Manager, Mariana Radu, said.
The residential complex under construction, Theresianum, will include 120 apartments, while investments will total EUR 7 million. The project is set to be completed in 2009.
RTC Holding is one of the largest retail and distribution groups in Romania, with operations in the IT&C, books and stationery retail, real estate, production and logistics.
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