Romaero plots, put at 221 million euros

Bucharest-based Romaero (RORX), which provides aircraft maintenance and repair services, has plots worth over 800 million RON (221 million euros) in the Baneasa area of Bucharest, according to its annual report. The company is evaluated at around 68 million euros on the RASDAQ market. Romaero holds large plots in Baneasa, one of the most dynamic areas in Bucharest in terms of real estate development. According to representatives of financial investment company SIF Muntenia, a minority shareholder of the company, Romaero’s plots cover over 30 hectares, with the company having around 9.5 hectares of land pledged as guarantees for banks loans at the end of last year. Romaero’s overall assets exceeded 1 billion RON (around 277 million euros) for the first time at the end of last year. The assets are the most valuable on the RASDAQ market. The book value of the company’s portfolio of buildings stands at 123.3 million RON (34.1 million euros).