12 May 2009
Eagle Development, a subsidiary of the Israel Land Development Company (ILDC), has borrowed £20m from Banca Comerciala Româna to finance stage one of the Jackob Park residential development in Bucharest’s Pantelimon district, the firm’s first-ever Romanian project, according to standard.ro.
The company’s decision to build and offer property in Romania will see it construct 250 apartments in the first stage of the scheme, at a cost of £27m.
The development, which will take around eight years to complete, will eventually consist of 1,500 apartments in 12 buildings, at a total cost of £153m.
See Also: Romania (5)
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