Remus Murgu enters the real estate market in Bucharest
Entrepreneur Remus Murgu, owner of lighting supplier Redo Group, is preparing a mixed real estate project with offices and housing near Băneasa Airport, his first project on the Bucharest real estate market.
Redo Group has started the promotion of a Detailed Urban Plan on a 582 sqm plot of land located right in front of the famous restaurant La Cocoșatu`, in the north of Bucharest. The company's plan is to build a building with two basements, ground floor and 4 floors with office and residential functions. The building's floor area has been calculated at 1,740 sqm.
Redo Group reported last year a turnover of EUR 28.1 million and a profit of EUR 7.6 million, with an average number of around 100 employees. This is the best financial result in the group's 23-year history.