Turks invest 80m euros in one year in Cosmopolis

Turkish-held Opus Land Development, which started construction work on the Cosmopolis residential complex in Stefanesti, North of Bucharest, in September last year, announced it had so far invested around 80m euros in this project, with the amount to rise to almost 100m euros by the end of the year. “Around 40m euros have come from the Garanti Bank loan, 30m euros from client-generated sums, and 10m euros from the company’s own sources. Around 20% of this investment has been directed towards the infrastructure of the two stages of the project,” said Ahmet Buyukhanli, president of the company. The first stage of the project entails 565 homes, all of which have been sold, while the second stage includes 1,200 units.