The residential project in Bucharest, close to Dobroesti Lake, will be called Jackob Park, and construction works have already started at the site.
Israeli Land development Company (ILDC) acquired in 2007 50 percent of the shares of a company set up in Romania.
The acquired company is the owner of a real estate site in Ploiesti, spanning some 30,000 sqm, with building rights of some 40,000 sqm for commercial purposes, where the firm plans to erect a shopping mall.
To date, some 5,000 sqm of the intended mall have been rented and opening is expected in the beginning of 2009, according to information from the company.
In December 2007, an ILDC-subsidiary signed an memorandum of intention with unrelated third parties, for the acquisition of 50 percent of a Cypriot company holding of a Romanian company, the owner of a land plot spanning 464,000 sqm near Bucharest, on which, according to the town plan, 278,400 sqm can be built, according to ILDC.