EnglishDutch real estate group Nanette attracted 38 million EUR by issuing debentures on the Tel Aviv Stock Exchange. The funds will be used for investments in Central and Eastern Europe. The money will be used to finance the company"s projects in Romania, Polonia, Hungary and Croatia. Nanette plans to start an aggressive expansion campaign in Central and Eastern Europe, by acquiring properties in the region.
In Romania, Nanette Real Estate Group has recently signed an agreement for the acquisition of a parcel of land in the Savinesti area for 1.278 million EUR, in order to build 400 apartments. The company also signerd a preliminary agreement for the purchase of a 7,400 square meter parcel. The investment wil amount to some 23 million EUR. This year, the company has also acquired 10,000 square meters of land in the Lacul Morii area of Bucharest, where the real estate developer will build 300 apartments. The investment is estimated at 29 million EUR.
Nanette plans to acquire two parcels of land totaling 23,000 square meters in Timisoara, in order to develop two residential projects worth 48 million EUR.
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