Raiffeisen Evolution finds managers for Floreasca City

Raiffeisen Evolution, the real estate development unit of the Austrian Raiffeisen Group recruited Ionel Giuglea, former general manager of construction company Alpine and Monica Barcutian, former financial manager of the local infrastructure and construction division of the Strabag group early this year to boost its investment on the Romanian market. Giuglea and Barcutian will head the local subsidiary of Raiffeisen Evolution. Raiffeisen Evolution will begin development of the Floreasca City real estate project in Bucharest, which will comprise an about 30-storey tall office building and a shopping complex. The project will attract 200 million euros in investments and will be completed at the end of 2009, according to the company officials. “The change of the managers for the division in Romania is complete and we can develop faster on the local market. We will begin the Floreasca City project at the end of this year and we will buy two plots in Bucharest and outside the capital city to develop new real estate projects,” Karl Wallner, head of the CEE project development unit of Raiffeisen Evolution told Ziarul Financiar.