ING enters real estate with 30m-euro project

The Dutch financial group ING has entered the local market with its real estate division, which in partnership with the construction company ACMS Bucharest is developing a project focused on building offices in the north of the capital, close to Piata Presei Libere. Sources from the real estate market estimate the project as standing at about 30 – 35 million euros. ING Bank Romania is to move its offices to the S. Park, a business centre that will include four buildings, joined together in pairs in the shape of the letter H, say sources close to the deal. The project will be delivered on the market at the beginning of next year. With a business portfolio worth 64 billion euros, ING Real Estate is one of the biggest real estate players worldwide. ING Real Estate and ACMS representatives had made no comment on the subject by the time the story was ready for print. The A-class office project, with a built surface area of 50,000 square metres is being promoted by the real estate agencies Eurisko and DTZ Echinox. S.Park is located very close to another important office project, Bucharest Business Park. ACMS is a construction company with fully private capital, set up in 1993. ZF