Neocity to invest EUR 1bn in real-estate.Bucharest, March 29 (InvestRomania): Neocity wants to invest in the next three years EUR 1bn in real-estate projects in Bucharest and Constanta.
”We came to Romania in 1999, because we were confident in the remarkable progress the country would make in the years to come. Not only does Romania, but it is also rapidly improving its social and economic infrastructure. That is why we have decided to focalize a great part of our resources in Romania, and to put this country on top of our real-estate-project list”, says Ehud Benshach, President of the NEOCITY GROUP board.
The company launched on Wednesday City Parc project, which is a mall in Constanta. Six other projects are scheduled to follow in the future. The value of this project is EUR 50mln. All the other six projects will range in value from EUR 100mln, to EUR 300mln. The City Parc mall will be finalised next year. The next Neocity project in Constanta will be Peninsula, worth EUR 300mln, and will be a residential area.
Neocity Romania is the developer of Neocity Tower in Bucharest. The group also operates in Israel, Czech Republic, Hungary, Poland and Africa.