Fadesa to invest over 1bn euros in residential projects

Real estate development company Fadesa Immobiliaria intends to invest over one billion euros in Romania for the construction of five residential projects in Bucharest and Bacau, which will comprise more than 16,000 residences. The Spanish developers have become very active on the Romanian market in the fields they specialise in over the past year, that is residential and retail sector. With the entry of Fadesa in Romania, the Spanish investments on the real estate market will exceed 1.5 billion euros in the next three years. “We will continue the fast-paced expansion strategy of the company in the European countries with the start of the first projects in Romania, where we will invest 1.05 billion euros in building five real estate projects with more than 16,300 homes. The projects will be located in Bucharest and Bacau,” company representatives have announced. The company’s most significant project on the Romanian market will be located near the Capital, where Fadesa intends to develop a residential complex in which it will invest 850 million euros. The project, which will have a built surface area of over 640,000 square metres, will consist of 12,000 residences and will be situated in Stefanestii de Jos, North of Bucharest.