Richard Joannides, the CEO and former owner of travel agency GoTravel, has opened the Verita International School of Bucharest after an investment of EUR 300,000.

In the next five years, the total investment will reach EUR 1 million, money to be used for expanding the campus, the number of classes and the age groups, reports local Wall-street.ro.

The classes will start on September 15 and the school has a maximum capacity of 120 children.

It currently covers the 2 - 11 age group, kindergarten and primary school, but it plans to further grow. Tuition fees vary between EUR 4,800 and EUR 6,500 per year.

Irina Popescu, irina.popescu@romania-insider.com