380m-euro projects for RED Management Capital

Real estate developer RED Management Capital will develop projects worth 380 million euros, on all segments of the real estate market, in several cities in the country over the next few years. “In Arad we have a 11.5-hectare plot where we will develop a retail project, and in Iasi we entered a join-venture with a company that owns several plots of land, where we will develop two residential projects, a mixed project, which will comprise office and retail space and an industrial project, at the way out of Bucharest,” stated Andrew Stear, representative of RED Management Capital. The two residential projects in Iasi will be developed on plots with a total surface area of seven hectares, for the office and retail project, the plot measures 13 hectares, and the industrial project will cover a 14-hectare area. “The cumulated investment for the projects in Iasi stands at 200 million euros, and will be self-funded, at least in the beginning,” Stear added.