Pelican Com to make 300m-euro investment

Pelican Com, a division of the Turkish group G?rtas, wants to invest up to 300 million euros in five real estate projects in Bucharest, with projects involving the construction of homes and shopping centres, according to representatives of the developer. Primarily, the projects will be developed in the Pantelimon area, where the company has already acquired several plots of land. “The first two will be housing projects, for which we have allocated around 23 million euros. They will comprise around 210 flats. Pelican Com is also negotiating the acquisition of an approximately four-hectare plot in Pipera, where it intends to develop various projects including a residential area, retail space and a hotel,” stated Kutsal Durace, sales manager of real estate services provider Casa del Sol, the promoter of Pelican Com projects. The company acquired four plots of land in the Pantelimon area, with surface areas of around 5,000 square metres. Another important project for the company will be the construction of a shopping centre in the Pantelimon area, for which the planned investment will be as much as 100 million euros. “The project will be the construction of a mall-type shopping centre, entailing an investment of almost 100 million euros (…),” added Durace.