Innovative land & property investments
Romania Property Investment News
Romania continues to attract large-scale investors
A British developer is the latest to announce a large-scale investment into real estate in Romania, as the country’s property market continues to enjoy consistent and ongoing investment in the wake of its EU accession. Westhill, which builds and sells both residential and commercial real estate throughout Central and Eastern European cities, has announced that it is investing around €100 million into projects in Romania’s cities.
Westhill’s investment is going into two projects to be developed over an area of between eight and ten hectares. The company’s focus in Romania is on retail and residential projects, and these latest developments will incorporate a shopping centre and a large leisure and retail complex. This is the latest move made by a large developer into extending the retail or commercial real estate of Romania’s cities, and as these facilities grow, it follows that large employers will move in, providing job opportunities and generating wealth for the domestic population. This pattern is common to countries that have previously entered the EU, and is the driving factor behind many individual private property investors targeting the country.
Westhill’s recent pledge has marked the latest in a number of considerable sums earmarked by developers for projects in Romania. This year has seen a flurry of interest, particularly in Bucharest. The construction company America-Israel announced it was extending its operations to Romania, and was starting work on a multi-million dollar project in Bucharest. Real estate investment trust Fabian Romania Property Fund Ltd announced earlier this year that it was purchasing an office building in North Bucharest for a total of €60 million, with a view to redevelopment.
These are just a few examples of the investment being ploughed into the country by private institutions, who clearly have confidence in the potential of Romania, and who are themselves contributing to the economy and future of the country.
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