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Rothschild bankers target real estate market also through partnership with Israelis at Ocif

Israeli property developer Ocif Group intends to invest, in partnership with the financial group Rothschild, at least 200 million euros in real estate projects in Romania by 2010, the Israeli company has announced.

'We have been in Romania for nearly two years and we have participated actively in the development of the Romanian real estate market. Thus, we know this market and the needs of its clients. Romania is a country with big potential in all fields, especially the real estate one,' the CEO of Ocif Group Romania, Avner Bar told Business Standard. The first project developed in Romania by the Israeli group is situated in Bucharest and consists in an 110-flat building. The project is held equally by Ocif and Rothschild. So far, 5,5 million euros has been invested in this project and another 20 million euros will be added until its finalization in July 2009. The financing comes 80% from Bancpost. Another real estate project in which the Israeli company intends to invest will be erected on a 100,000-sqm plot of land, situated close to Bucharest. 'We are negotiating for new plots in Bucharest, but we are looking also to cities such as Cluj-Napoca or Brasov. It is time for us to develop and increase our portfolio, as the market becomes more logical, more reasonable', an Ocif official told Ziarul Financiar. He adds the firm counts mainly on the residential segment but is taking into account also the office market. Sursa: http://www.rompress.ro

Tags: market estate romania rothschild

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