Heberger plans to develop its own real estate project

Heberger Constructii (Heberger Construction), the local subsidiary of the German group Heberger, which specialises in construction, estimates a turnover worth some 55 million euros this year, up 57% against the figure for last year, and intends to develop its own real estate project. “We intend to expand our activity onto the local market and develop our own real estate projects. We will make a decision on a future project in the second half of this year,” stated Claus Kegel, technical manager of Heberger Constructii. The company is interested in developing residential or commercial projects. Heberger has so far only conducted design and construction contracts and has signed contracts worth 74 million euros valid until 2009. “The real estate market has developed much faster than it was forecast two or three years ago. The fact that Romania was about to enter the European Union and its population stands at over 20 million, attracted foreign developers, drawn by the demand on the market,” specifies Kegel.