Europa Group plans projects worth 190m euros

Lithuanian group Europa Group intends to develop real estate projects worth 190 million euros on the local market in the next three years. It will provide 48 million euros in self-funding, with the rest of the sum to come from bank funding, according to company representatives. “We want the real estate projects we have started in Bucharest to be completed by 2009. Our first project, City Center Residence, will be completed in October next year,” said Mindaugas Jankus, marketing and sales manager of the company. City Center Residence represents an investment worth over 18 million euros and is located in the Carol park area of the Capital. The complex is made up of six buildings, with a total floor area of 20,000 square metres, and has been 30% completed. The 104-flat complex will consist of a total of 21 two-room flats, 59 three-room flats, 14 four-room flats, one five-room duplex and nine studios, with usable areas ranging from 51 to over 200 square metres and prices of 107,000 euros to 422,000 euros.