Heberger's Romanian unit Heberger Constructii intends to start developing its own real estate projects in the country this year. The construction group estimates to generate turnover of EUR 55 mln this year, up 57% year-on-year, and has said it is planning to develop its own commercial or residential projects.
Heberger's Romanian unit Heberger Constructii intends to start developing its own real estate projects in the country this year. The construction group estimates to generate turnover of EUR 55 mln this year, up 57% year-on-year, and has said it is planning to develop its own commercial or residential projects.
'We intend to expand our activity into the local market and develop our own real estate projects. We will make a decision on a future project in the second half of this year', said Heberger Constructii's technical manager Claus Kegel. 'The real estate market has developed much faster than was forecast two-three years ago. The fact that Romania is about to enter the European Union and that its population stands at over 20 million, is attracting foreign developers, drawn by the demand on the market', added Kegel.
Heberger Constructii is domiciled in Bucharest and belongs to Schifferstadt-based Heberger-Group, one of the leading construction enterprises in Germany. Since its foundation in 2004, the company's turnover has grown up to about EUR 32 mln in 2006.