Ablon Group, the real estate developer operating in Central and Eastern Europe, expects a new apartment and office development in Bucharest will generate total revenues of between EUR 120-140 mln. Having completed the acquisition of a 33,600 m[sup]2[/sup] plot of land in the Pipera district of the Romanian capital for EUR 9.5 mln, Ablon has building rights for 117,000 m[sup]2[/sup] on the plot. The company plans to develop 1,000 apartments on 100,000 m[sup]2[/sup] and offices on the other 17,000 m[sup]2[/sup] within the next five years. This is Ablon's first office development in the city.
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