Premiumred goes for forth project, negotiates sale of Premium Plaza

The developer is currently negotiating with ING Real Estate to sell Premium Plaza, the project which was recently finalized. It is valued at EUR 30 million, according to Klaus Guggleberger, a member of the board of directors with Investkredit. The building required a EUR 20 million investment, and delivered 14,000 sqm of built area. Only the first 11 floors of the 15-level building have been leased out and negotiations are underway for the remainder. The developer intends to buy other plots in Romania in the second half of the year to develop new projects in two or three years. The firm has recently announced plans to build several four and five-star hotels in Romania and rent them to international chains.
Corina Saceanu