Sat, Nov 21 2009
ING Real Estate Development (ING RED), the real estate branch of the ING group, was planning to start a large-scale real estate project in the centre of Bucharest, Investor.bg said.
The new project was said to be similar to the Zlote Tarasy project in Warsaw and to include office spaces and a mall, Romanian daily Ziarul Financiar said.
"We found an appropriate plot in Bucharest on which we can build. The situation is quite complicated, however, as it involves several owners, but we intend to pursue this project," ING RED managing director in Romania, Siep Hoeksma, was quoted as saying.
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The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.
Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.
The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?