La Caixa approves a EUR 10.5 mln loan to finance a luxury residential project in Bucharest

The Spanish bank La Caixa approved to the Romanian branch of the construction group GEA International Development a EUR 10.5 million loan.

According to a press release of GEA, the money will be used to finance the first stage of a luxury residential project from Lacul Tei area in Bucharest.

Up until now the project which will have 504 apartments situated in 18 buildings was financed form the developer’s own resources.  

D.V.

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