Spanish developer CP Grupo wants to offload a 2,243 sqm plot in Bucharest’s Plumbuita Lake area.
The developer purchased the land in 2007 for €4.5m, said Dan Cismas, general manager of CP Grupo’s Romanian office. Cismas did not disclose the current qasking price.
The company had intended to develop a €25m residential project called Lakeland Residence on the property, but the plans were put on hold after the market plunged into recession.
In addition to Lakeland Residence, CP Grupo had also planned to develop an office building as well as a number of other residential projects around the region, totalling €100m.
