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Nov 10, 2023 14:31 EEST
November 10 (SeeNews) - Romanian real estate developer Meta Estate Trust [BSE:MET] said on Friday that it has invested 6.9 million lei ($1.5 million/1.4 milllion euro) in a residential project built in collaboration with local peer Apx Immo Property.
The premium boutique-type project comprises 21 apartments and is at an advanced stage of development, to be completed within the next 12 months, Meta Estate Trust said in a statement.
This type of investment by the company involves entering into a partnership with a real estate developer for one or more projects with the aim of sharing returns, according to CEO Alexandru Bonea.
"We respond flexibly to the current dynamics in the real estate market and are constantly looking for new opportunities. In the current context, we have chosen to invest in projects in advanced stages of completion, targeting the premium market segment, a strategy that has proven to be effective even in periods of stagnation," Bonea explained.
Meta Estate Trust was established in 2021 and is currently listed on the AeRO market of the BVB filed with the Bucharest Stock Exchange. The company's shares last traded on Thursday when they closed flat at 0.76 lei, Bucharest Stock Exchange data showed.
(1 euro=4.97007 lei)
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