Chinese Co To Invest EUR200M In Bucharest Real Estate

Construction material distributor Zheng Shi International, which also holds the Orient Hyperconstruct store in Romanian commune Voluntari, will invest over EUR200 million in the construction of several residential projects in eastern Bucharest.

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The first residential project, Ideea Residence Dobroesti, is already under construction in the Fundeni-Dobroesti area and will include 108 apartments, in ten buildings.

The complex will be fitted with walkways, parking spaces and green areas. Construction works were initiated in fall 2007 and will be completed in December 2008.

"Ideea Residence Dobroesti is the first Zheng Shi International investment, while the construction of a new complex will begin in fall this year, Ideea Residence Fundeni, which will include over 1,000 flats," said Sebastian Leascu, managing partner within real estate company Cityland, which promotes the Ideea Residence Dobroesti complex.

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