The Israeli company America-Israel, involved in construction projects in Israel
and Canada, is expanding its construction business to Romania, and has acquired land for a new project in Bucharest.
This 700 new apartment project's revenue is expected to reach $110 million. America-Israel holds a 90 percent share of the project, with the Romanian company Frorum covering 10 percent.
The site is a 4 acres land in the pipera neighborhood area in north of Bucharest. The land was acquired for $5 million.
The project is in its primary planning phases, and the construction is due to start within eight months.
This is the second project of America-Israel in Romania. Recently, the Israeli company signed on another land acquisition deal in Bucharest, and will soon start constructing a 120 apartment project in the city.
Reprinted with permission of The Israel Export and International Cooperation Institute
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