Dafora branches out to real estate

Dafora, a company normally involved in petroleum drilling and constructions, plans to take out mortgages for 11 million euros over ten years in order to build residential complexes in Sibiu and Medias. An announcement by the company sent to the RASDAQ indicates that the funding for the development in Sibiu will run to eight million euros. Dafora intends to borrow a further three million euros for the building of the residential complex in Medias. A meeting of shareholders of the company has been called for the end of January to endorse credits in excess of 13 million euros. Corporate data show that the Venus residential complex to be built in the Gloria area of Medias will have 47 turnkey houses. All the houses will be fully detached and have surface areas of 100 to 200 sqm, with a 400-600 sqm surrounding plot of land. House prices will range from 45,000 to 80,000 euros. ZF