BUSINESS

CA Immo assets in Romania account for 20 pc of CEE total

The market value of CA Immo assets in Romania, after taking over the company Europolis, the Austrian bank Volksbank’s real-estate investment division, for EUR 272 M, including the projects for development, amounts to EUR 444 M, accounting for nearly 20 pc of the company’s portfolio in Central and Eastern Europe (CEE), estimated at EUR 2.3 bln, Mediafax reports. CA Immo, the second largest real-estate developer in Austria, owns nine completed projects in Romania, evaluated at EUR 382 M, with an average yield of 8.3 pc. Assets in development are evaluated at EUR 62 M.

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