Kesz Group, one of Hungary's largest construction companies, has purchased a land plot of 16,000 sqm in northern Bucharest for an undisclosed sum where it plans to develop a residential complex.
The land located in the Petrom City area was purchased from Romanian entrepreneur Cornel Roșu, Founder of Radox, a manufacturer of HVAC equipment.
”After 20 years of Kesz Construcții presence in Romania and five years after the first Hexagon Office Building real estate investment in Cluj, through this step we are consolidating the Kesz Group's presence in Romania. We estimate that we will invest over 50 million euros in the future residential complex and we will create an emblematic project for this segment, which has seen a significant increase, especially in the last year,” said Lajos Dioszegi, Director of Investments at Kesz International Romania.
Real estate consultancy Fortim Trusted Advisors brokered the deal, while law firms Sirbu & Vornicu SCA and Nagy & Associates Law Office provided legal assistance.
