Paralela 45 invests 2m euros in flats

Bucharest-based travel agency Paralela 45, which also owns a real estate development unit, has initiated investments worth 2 million euros in a complex of apartments in the mountain resort of Predeal, the company’s chairman Alin Burcea announced. “The complex includes 49 apartments, which will be situated in front of Predeal slope, to be finalised in December 2005,” Burcea said. The company also holds a 12-flat complex and a villa in Neptun, called Club Topaz, and has recently purchased apartments in the Navodari seaside resort in instalments. “This segment, of investment in holiday apartments, has been quite overlooked so far and I think it has a high potential. The target is families with children, which would rather rent an apartment with a kitchen than go to a hotel. At the same time, there are increasing numbers of businessmen wanting to buy apartments in mountain or seaside resorts,” Burcea said. ZF