German bank Eurohypo plans to grant loans worth a total of EUR 200 mln for property deals in its first year of business in Romania, financial newspaper Ziarul Financiar reported. Globally Eurohypo targets the commercial rather than the residential property segment and it will do the same in Romania, a spokesman told ZF.
German bank Eurohypo plans to grant loans worth a total of EUR 200 mln for property deals in its first year of business in Romania, financial newspaper Ziarul Financiar reported. Globally Eurohypo targets the commercial rather than the residential property segment and it will do the same in Romania, a spokesman told ZF.
'We are focusing on deals and volumes of 20-50 million euros, which unfortunately are quite rare now. In principle there are large projects, such as office buildings, shopping galleries and sometimes hotels, worth above 15 million euros', he said.
Eurohypo has been testing the Romanian market for the past couple of years, and opened an office in November 2006. Aside from Bucharest, Eurohypo is also eyeing other major cities in Romania with real estate growth potential including Cluj-Napoca, Iasi, Constanta, Timisoara and Brasov.
