EnglishHercesa Imobiliara SA, the Romanian subsidiary of Spanish real estate developer Hercesa, increased its share capital by 8.85 million EUR (29.93 million RON), to 17.9 million EUR (60.68 million RON), according to a company announcement quoted by NewsIn.
The company plans to develop a residential project in Bucharest, in partnership with Cyprus-based investment fund Bluehouse Capital. The complex will be built on a 13-hectare land parcel in the Ghencea area and will consist of 1,500 apartments. The investment will surpass 300 million EUR. Another residential complex will be built on Orhideelor road in Bucharest and will consist of approximately 800 apartments.
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