Vastint buys 8,000 sqm land in Bucharest

Real estate developer Vastint, IKEA's real estate division, has purchased land in Bucharest from developer Reds, part of the Ellakator group. The land is located near the Vastint project, Timpui Noi Square, and has an area of almost 8,000 sqm. The value of the transaction amounted to EUR 11.4 million.

Vastint owns in Bucharest the Business Garden Bucharest office project and has the ongoing construction of new office and apartment buildings on the land at Timpuri Noi, where the first buildings in Timpuri Noi Square are built. In addition, the company also owns a 47-ha plot of land in the north of Bucharest, where it is peparing the start of the construction works.