Bermo Group, 13m euros from 3 residential complexes

Arad-based Bermo Group forecasts turnover worth over 13 million euros for this year, and expects to finalise and sell the three residential projects (currently under development) by the end of this year – Bermo Orizont, Bermo Residence and Bermo Ambient. The developer posted turnover worth over 2 million euros last year, while company representatives announced they would start another five real estate projects in the first part of 2009 and this year; three in Arad and two in Brasov. The five projects will have a built area of 165,000 square metres and will entail investments estimated at around 100 million euros. The first of these projects will be developed in Brasov, on an over 9,000 square-metre plot, located 200 metres away from DN1 (National Road 1). The residential complex consists of eight 6-storey buildings, which will include around 170 apartments. “The investment is estimated at over 12 million euros, with construction works scheduled to start in May this year, and run over 20 months,” said Valentin Morar, general manager of the Bermo Group.