Copos invests 150m euros in real estate

Ana Holdings, the company controlled by vice-prime minister George Copos will invest over 150 million euros in three real estate projects – office buildings, extended stay hotels and residential projects in the next few years. “We have a plot of land near the Crowne Plaza where we will build a 37-floor office building. It will be the tallest building in Bucharest, 107 metres high. It will be a class “AAA”building, made entirely of steel and glass,”George Copos, the richest member of the Tariceanu cabinet, with a fortune estimated at nearly 300 million euros, told ZF. He says this investment will amount to over 30 million euros, with the construction price standing at 850 euros per square metre. “The investment will be funded 60-65% through bank credits, in particular from BRD, which we have a good working relationship with and the rest will be covered by our own funds. Copos is also building the new headquarters of the Ana group near the Crowne Plaza hotel, which should be ready in January. The investment is estimated at 4 million euros. Ana Hotels will also build extended stay hotels near Crowne Plaza and Hilton. The biggest project Copos wants to develop, however, is located on a 80,000 square metre plot of land near the Straulesti Lake in the capital city, and is an over 65 million-euro project, as he said. ZF