Green City residential assembly is put up for sale for EUR 20 mln

Green City residential complex, developed by the Green City Construct company, controlled by businessman Dumitru Bucsaru, was put up for sale by the judicial liquidator, who sells over 200 villas and the afferent land, individually or wholesale, in the latter case the price being set at EUR 20 million.

“The price of EUR 20 million includes 202 buildings, the afferent land, respectively 180 square meters for each building, plus other small plots of land,” explained the liquidator’s representatives.

They stressed that the price in case the buildings are valued individually ranges depending on the completion degree of each building, from EUR 290 per sqm up to EUR 390 per sqm VAT excluded (the price is average for both housing and for the afferent land by dividing the total cost to the total area of the house and land).

Bucsaru is investigated under home arrest in a file in which he is suspected of fraudulent bankruptcy, namely that he obtained a EUR 30 million loan from CEC Bank to build the complex, and after it became insolvent he would have alienated the assets, by submitting false accounting data.

The businessman is suspected also of destruction, whereas after Green City Construct went bankrupt, he would have taken from the apartments of the residential complex, which were fully equipped, the furniture and the heating systems, in order not to hand them over to the judicial liquidator, stated sources among the investigators, according to Mediafax.

The prejudice in this case was estimated so far to RON 1.5 million (EUR 0.3 million).

Dumitru Bucsaru is the former owner of the Unirea Urziceni football club and is known as a close friend of former president Traian Basescu and of Elena Udrea.