RomReal sells Constanta property for EUR 2.3 mln

Newsroom 07/10/2010 | 20:20

RomReal, a top Romanian real estate investment company, listed on the Oslo Stock Exchange announced that has divested one of its properties in the central area of Constanta city, namely the bus station plot.

According to company information, the value of the transaction was EUR 2.3 million in cash. “I am pleased that we have realized this sale at a value. In these challenging times we have finalized a transaction that demonstrates the attractiveness of RomReal’s land bank. We will continue with this effort, assuming that the right opportunities occur, to add to our cash position and strengthen our working capital even further,” said Kay Thorkildsen, RomReal’s CEO.

The transaction reflects RomReal’s strategy to divest assets in order to strengthen its financial position even further. In line with aforementioned strategy, the company is actively working in achieving further property divestments in the near future.