Dedeman, owned by Adrian and Dragos Paval, bought a 27,000 sqm plot of land in Bucharest’s fifth district. The property, located on Progresului avenue, was purchased from the flax and hemp manufacturer Industria Iutei for €6.7m, according to Ziarul Financiar. The DIY chain has not revealed what its plans are for the site, but local news reports are suggesting it could build a store, office or residential scheme. The area is already home to a number of retail and office projects, including Green Gate and AFI Tech Park, which is set for completion next year.
