New Israeli investments on Romanian real estate market

The Israeli company Digal Investments & Holdings, the developer of the Obor Towers project, will invest about 17 million euros in building more than 3,000 flats in Bucharest, in the Baneasa area. It is to expand its investments in the provinces in the next 4-5 years, reads a release issued by the DM International consultancy company.
After starting to build the Obor Towers residential project and investing 15 million euros for building plots of land in Bucharest, the Israelis with Digal Investments & Holdings plan to develop residential projects in many regions of Romania, which are worth more than 200 million euros.

Digal Investments & Holdings, a company that is listed on the Tel Aviv stock exchange, prepares the first stages of some extensive projects in the Baneasa and Straulesti areas. The Obor Towers residential complex will be finished in December 2009 and offers one-room flats (ranging from 63.72 sq m to 71.65 sq m), two-room flats (ranging between 83.3 sq m and 101.2 sq m), three-room flats (ranging from 114.5 sq m to 147.28 sq m) and very few fourroom flats (ranging between 160.70 sq m and 185.23 sq m) for average prices, starting with 91,120 euros for a one-room flat.
After the about 10 million euros investment to go with the 125 flats included in the Obor Towers project, the Baneasa project, which will cover an area of 22,500 sq m and will include 194 flats, implies an investment amounting to 16-17 million euros. The largest investment made so far in Romania by Digal Investments through the agency of businessman Hai Solomon will cover a 30,00 sq m area at Straulesti.

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