The House of Merchant Dimitrie Petrescu, a listed building located in Calea Grivitei, no 115, has been acquired on the basis of the preemption right by the Local Council of Bucharest District 1 for EUR1.7 million in order to be turnover into an education and cultural center, the Romania arm of Sotheby’s International Realty has announced.
Concelex, one of Romania’s biggest construction companies, has won the contract for the upgrading of Arad Penitentiary, a project worth RON49.3 million (VAT not included).