Hungarian construction and investment company Ablon Group announced the acquisition of land near the international airport in the town of Otopeni, west of Bucharest.
The total area of the land is 133 hectares, specified by the company in its release. The purpose of the purchase of the parcel is construction of office buildings. The value of the investment exceeds 280 million Euro, according to official data of the company.
The total area on which the project will be located is 266,500 square meters. Investor's expectations are construction works of the office buildings to begin in the next 24 months.
The Hungarian construction company, established in 1993, stepped on Romanian market in 2006. Until now it has invested in the market over 43 million euros, showed data of the statistical institute of our northern neighbor.
This is the fifth project that the company will launch in Romania but it is the biggest. The remaining four projects include construction of a total of 4,000 apartments located in 116 housing estates.
The total market value of the flats exceeds half a billion euros, the Hungarian company informed.
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