Heberger Constructii anticipates turnover worth 65m euros

Heberger Constructii (Heberger Constructions), the local branch of the German group Heberger, forecasts turnover worth 65 million euros this year, up around 30% on last year, amid slower growth on the real estate market. Germany-based Heberger, the construction company behind the Bucharest Business Park and the Bucharest West projects, say the real estate market will start growing at a normal rate this year, after a period of record-high increases. “There will be major delays for some of the projects announced, and the local real estate market will not grow to the degree that some studies suggest, however, this can not be considered a decline, just a normal market increase,” said Claus Kegel, general manager of Heberger Constructii. The local market will see at least two more years of strong growth, with a slowdown to follow. “The real estate crisis on the Western markets will not affect us in any way. We have a rather extensive portfolio of works for this year, as well as for the first quarter of 2009. I predict two years of increases for our business, followed by a period of consolidation in 2010,” explains Kegel.