Media: New Bucharest real estate project on former clothing plant site

Romanian businessman of Palestinian origins Mohamed Hassanain and his Jordanian associate Saddiq Abu Seedo are planning to build a private hospital and apartment buildings on the site of the former clothing plant Tricodava, Capitalreported, quoting real estate market sources. Hassanain is the owner of the International Medical Center clinics. Tricodava is located in the Western Bucharest district of Drumul Taberei. The two associates bought last year a 26,590 sqm plot, part of the former Tricodava plant, from Spanish company Gran Via for some EUR 15 million, according to Capital estimates. In March of this year, the new owners received the urbanism certificate for the construction of a residential ensemble on the land. At the end of April they also received the Detailed Urban Plan for several 10-storey buildings, Capital reported. Some 5,000 sqm of the land will be used for the construction of a hospital, which is set to have a radiology section at its underground level, while the rest allows for the development of 700 apartments, according to sources quoted by Capital. Physician Mohamed Hassanain owns the International Medical Center clinics in Ilfov county and in the capital’s District 6. He owns a quarter of the company that will develop the Drumul Taberei project. Businessman Saddiq Omar H. Abu Seedo, a Dubai resident, indirectly controls 75% of the developer, Capital reported. He established the local egg producer Toneli, in Buftea, which he sold in 2008 to the Lebanese group of companies Laoun. He also owns the poultry farm Avicola Buftea and the mixed fodder producer Select Nutricomb Crevedia. Over 45 residential complexes to be launched at real estate fair in Bucharest editor@romania-insider.com