24 February 2009
Hundreds of wooden houses could soon be constructed in the northern Romanian town of Reghin, after Norwegian investment fund Romania Invest agreed a partnership agreement with modular wooden homebuilder Hi Cube, reports businessstandard.ro.
The fund is currently negotiating the purchase of numerous land plots for the construction of wooden homes across various parts of the town, where Hi Cube already operates a factory.
According to the fund, the construction costs for these homes are approximately 40% less than for more conventional housing.
Romania Invest has recently been buying up Romania property in a number of projects in Bucharest, and since it was set up in 2006 has invested around £75m, accumulating a portfolio of around 800 residential units now valued at just over £100m.
See Also: Romania (5)
Related News
