Advanced negotiations over the land, the location of which has not been disclosed, are ongoing.
This will be Nanette's first project in Romania, with several other residential compounds planned for around the country. Romania is the third most important country for the company in the region after Poland and Hungary.
The company announced in January its intention to obtain EUR 16 million by issuing shares, in order to finance expansion in its top three national markets. It will sell 13 million shares on the London Alternative Investment Market. The preliminary results will be announced in March.
Around 75 percent of the company's projects are in Poland. Overall, Nanette has 12,400 homes built or underway.