EnglishThe Spanish companies Prasa and Detea have purchased the site of the former public transport base in Constanta for 60 million EUR. The land is located on the shore of Tabacariei Lake, near the Black Sea and measures nearly 95,000 square meters.
The Spanish companies intend to develop a mixed-use project, consisting of office space, hotel, retail centres and residential units, with a built surface of approximately 380,000 square meters. The investment amounts to 450 million EUR. Construction works will start in early 2009.
Detea Group entered the Romanian market in 2005 with three of its four divisions: real estate, energy and environmental, and agricultural.The group"s investments in Romania will amount to 680 million EUR, according to a company announcement. Detea Group"s portfolio includes projects in Spain, Portugal, Ukraine, Mexico, Chile, Poland and Argentina and its assets are estimated at over 1 billion EUR.
Grupo Prasa is present in Romania since 2005 and its portfolio includes projects in Europe, South America and North Africa.
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