The institutional investor controls 95 percent of the project, called Swan Pipera Park, while the rest is owned by local firm Arca East Invest.
Duna Fund had its EUR 115 million closing in the first quarter of this year, with a target of real estate investments in Romania, Hungary and Bulgaria. It owns 92 hectares of land in Constanta, where it is also planning a real estate development. This second project is under the master plan drawing phase, and the ownership structure is similar to the one in Swan Pipera Park. Duna Fund is currently developing projects in Budapest and Sofia.
ARCA East Invest is a newly established Bucharest-based development firm. Most recently, it acted as consultant on the Sema Parc in Bucharest.