Meta Estate Trust invests in land plot in central Bucharest

Business Forum

4 November, 2024 at 1:00 PM

Meta Estate Trust has invested in a plot of land near Victoriei Square in central Bucharest, where it plans to develop a building that will be leased to a chain of private medical clinics.

The project will be completed at the beginning of 2027, and the total value of the asset upon completion will be approximately €5.5 million, according to a notification sent by Meta Estate to the Bucharest Stock Exchange (BVB).

“By investing in commercial assets that generate recurring income, we achieve solid predictability of financial results and reduce exposure to real estate market cycles. This project, along with the four we will develop for Penny, will ensure these long-term growth prospects,” said Alexandru Bonea, General Manager of Meta Estate Trust.

The company is looking for a general contractor for the construction of the building. Additionally, Meta Estate Trust is exploring the option of bank financing to cover construction costs, which amount to approximately €2 million.

Meta Estate Trust has a market capitalization of 66.5 million lei and a share price of 0.65 lei, according to data consulted on Monday morning at BVB.

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