The plot of land totaling over 100,000 square meters is located on the platform of the former Republica factory in Bucharest and was purchased from Tubinox S.A. with a view to be developed into a residential complex.
Tubinox S.A., part of the Indian Viraj Group, is a manufacturer of seamless pipes and tubes (carbon steel, alloy steel, stainless steel and refractory steel). Viraj Group is a major player in the global steel market, with a turnover of USD 700 million per year.
Mister Ionut Negoita is the former majority shareholder of the Dinamo Bucharest football team and also an important player on the real estate market in Bucharest. Mr. Negoita has built and sold over 7,000 homes and is currently developing the HILS Pallady Apartments project.
The Stratulat Albulescu team was coordinated by Managing Partner Silviu Stratulat, with the support of Managing Associate Tudor Ciambur and Associate Daiana Assoum.
Silviu Stratulat, Managing Partner Stratulat Albulescu said: “We are glad that we were able to contribute to the successful completion of this transaction. We would like to express our gratitude to Mr. Ionut Negoita for entrusting us with this important project.”