Ablon Group, the real estate developer operating in Central and Eastern Europe, expects a new apartment and office development in Bucharest will generate total revenues of between EUR 120-140 mln. Having completed the acquisition of a 33,600 m[sup]2[/sup] plot of land in the Pipera district of the Romanian capital for EUR 9.5 mln, Ablon has building rights for 117,000 m[sup]2[/sup] on the plot. The company plans to develop 1,000 apartments on 100,000 m[sup]2[/sup] and offices on the other 17,000 m[sup]2[/sup] within the next five years. This is Ablon's first office development in the city.
Ablon Group, the real estate developer operating in Central and Eastern Europe, expects a new apartment and office development in Bucharest will generate total revenues of between EUR 120-140 mln. Having completed the acquisition of a 33,600 m2 plot of land in the Pipera district of the Romanian capital for EUR 9.5 mln, Ablon has building rights for 117,000 m2 on the plot. The company plans to develop 1,000 apartments on 100,000 m2 and offices on the other 17,000 m2 within the next five years. This is Ablon's first office development in the city.
The development will increase Ablon's portfolio in Bucharest to approximately 3,000 apartments.
