Czech developer plans new developments in Bucharest

Czech developer S Group Holding, which completed the Green Gate office project in Bucharest last year, is interested in developing a new office building in the central-west area of the capital and a residential complex with 2,500 - 3,000 apartments in northern Bucharest. The company will either buy the plots for the new projects or will make a partnership with a land owner. The land prices are now lower compared to the period before the economic crisis, said Vladimira Novakova, Green Gate Development managing director. “You can buy a good plot in the city with EUR 500-600 per sqm, compared to EUR 1,000-1,200 before the crisis,” she explained, cited by local Ziarul Financiar. The developer will finance the projects, whose value it hasn’t mentioned, with loans taken from banks in the Czech Republic. editor@romania-insider.com