Koramic Real Estate Romania, the local division of the Belgian family office Koramic Investments, has announced a total investment of €30 million for two new residential projects in Romania.
The company is developing 82 premium residential units in the Pipera area, near Bucharest, as well as 18 high-end villas located on the shore of Străulești Lake.
Alper Cetinoglu, CEO, Koramic Real Estate Romania, said: "The potential of the residential market remains high as almost 20% of the country’s employees reside here, while the medium income is 25% higher than the national average. Full Schengen access doubled by the progress of infrastructure works add on this potential, with numerous opportunities on both medium and long term."
Koramic Investments focuses on office buildings, industrial, and residential real estate, with a presence in Belgium, Germany, Poland, and Romania.
The group's total asset base has grown from €1.1 billion to €1.4 billion over the last four years, primarily due to real estate growth, with total equity increasing from €540 million to almost €700 million in the same period.
