MAS and Prime Kapital consider splitting real estate assets in Romania

by   CIJ News iDesk V
2024-08-22   08:15
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Real estate companies MAS PLC and Prime Kapital, currently partners in a significant property development venture in Romania, may soon undergo a major restructuring. MAS recently informed its investors that it is evaluating a proposal to simplify its partnership with Prime Kapital, which could lead to MAS gaining full control of the joint venture.

The two companies have been collaborating through PKM Development, where MAS holds a 40% stake and Prime Kapital holds 60%. The proposed restructuring would see MAS acquiring Prime Kapital’s stake in PKM Development, along with the commercial development platform. In return, Prime Kapital would take over the residential properties and land designated for future residential projects.

If the proposal goes through, PKM Development would become a wholly-owned subsidiary of MAS, encompassing both existing properties and those in the development pipeline. Meanwhile, MAS would divest its interests in several residential projects, including the Silk District, Pleiades, Avalon, and Marmura, as well as land for future developments. Prime Kapital would then control a land portfolio capable of supporting the construction of approximately 11,000 homes in the coming years.

Source: economica.net

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