March 2 (SeeNews) - Romania's InteRo Property Development, owned by Canadian Topolinski investors family, said on Tuesday that it has established an investment division in order to consolidate its foothold on the domestic market.
The investment arm will address potential partners from all over the world seeking opportunities of premium projects in dynamic markets, the real estate developer said in a press release.
"We have already signed our first global partner, who made an investment for almost 20% of the exclusive, soon to be finalized project Northlight Residence," InteRo founder Michael Topolinski said.
Having global investors on-board for local projects is a first for the company, which has been present in Romania for over 13 years. The expressed interest from investors in North America, Asia and nearby countries is clearly a validation of Romania’s potential in the long run, InteRo said.
The newly established investment arm - InteRo Property Development Investment Group – will support both InteRo’s ongoing and future projects.
InteRo Property Development's portfolio in Romania includes five real estate projects with a total built area of almost 480,000 sq m, including 204,000 sq m of office space and 3,080 apartments.
In Bucharest , the company's portfolio includes the NorthLight Residence, SkyLight Residence, and Bucurestii Noi projects.