Adama relocates headquarters in Victoria Business Park

Starting this week, real estate developer Adama has relocated its headquarters from the Evocenter One Pipera building to Victoria Business Park which is owned by the company’s sole shareholder, Immofinanz Group.

The relocation is meant to facilitate the communication between the two companies, said Adama representatives.

Immofinanz Group has acquired the remaining 69.22 percent stake in Adama Holding last June for EUR 42.43 million after it had been a shareholder in the South-East European residential property group since 2007.

Austrian investment fund Immofinanz is the largest real estate asset owner in Romania. After acquiring Adama, the value of its local real estate portfolio has increased from EUR 902 million (at the end of October 2011) to EUR 1.029 billion (at the end of January 2012).

Adama has built over 1,500 apartments in Romania as well as commercial spaces and offices.

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