Construction company behind IKEA's store - 65m-euro business

Pitesti-based constructions company Conarg, controlled by businessman Valentin Visoiu, estimates an approximately 20-25% increase for this year, to around 65 million euros, taking into account the number of contracts already signed for this year. Conarg group, which operates in real estate, constructions and logistics, last year posted an around 100 million-euro turnover, after the constructions division registered a 50 million-euro turnover. “For this year, we estimate an at least 20-25% turnover increase for our constructions division given the contracts we have already signed. Our portfolio’s main targets are shopping centres, logistic parks and office spaces, as well as residential projects developed by the real estate division,” said Valentin Visoiu, general manager of Conarg. Among the company’s largest projects is the construction of two Carrefour hypermarkets, in Bucharest and in Pitesti. The company completed the construction of the first IKEA store last year, a project worth 10 million euros.