Czech real estate developer PPF Real Estate is in the process of acquiring a plot of land of about 8,000 sqm in the Orhideea area of Bucharest, from the RC Europe group, a transaction estimated at over EUR 10 million. The deal will be completed in about 2-3 months.
The real estate division of the PPF group entered the Romanian market in 2016, through the acquisition of the Metropolis Center office building, at a price of EUR 48 million, followed, in 2018, by the takeover of the Crystal Tower, for EUR 43 million.