Wednesday, February 27, 2008

Romanian company to develop real estate projects with Chinese partner

BUCHAREST, Feb. 26 (Xinhua) -- Romania's Niro Group is to work on several real estate projects in Bucharest and other big cities in the country with China's Beijing Urban Construction Group Co., Ltd, local media reported Tuesday.

In September, the company is to start building a block of flats and a hotel in Bucharest's Free Press Square, on an area of 3,350 square meters in cooperation with the Beijing partner, said Ecaterina Vanea, CEO of Niro Investment, the main company of the group.

Niro will also kick off the construction of a China Town in northeastern Bucharest this year. The town will be composed of three distinct areas, namely Dragonul Rosu, China Business Center and China Towers Residential.

China Business Center will have a 16-storey office building, conference halls and an exhibition area of 100,000 square meters.

China Towers Residential project features 12 blocks with over 600 flats, which will be the home of the biggest Chinese community in Southeast Europe.

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