Spanish Fadesa makes local entry with EUR 1 billion of projects

Newsroom 11/09/2007 | 15:56

The projects will total over 16,000 homes. Entering Romania is part of the company's expansion strategy across Europe.
Of the five announced projects, the biggest will be near Bucharest and will require EUR 850 million from the developer. The project, to be built in Stefanestii de Jos, will feature 640,000 sqm of built area on 12,000 sqm.
The other four projects will be in Bacau which will receive 4,300 new homes.
Fadesa has been active in real estate, with a focus on residential and hotels, for the last 37 years. In Central and South-Eastern Europe, the company is present in Hungary, Poland and Bulgaria where it owns several housing projects, hotels and golf courses.
Other Spanish developers have recently entered the local market. Names like GEA Prasa, Riofisa though its partnership with Tiriac Imobiliare, Ibiza House, IUE Imobiliare and Hercesa are all active on the Romanian scene.

Corina Saceanu

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