The projects that Hungarian developer Ablon Group plans to build in Romania remain in stand by indefinitely until real estate market conditions will improve, according to its financial reports.
Ablon Group has six sites in Romania, totaling almost 700,000 sqm, including two in Pipera, one in Mogosoaia, one on Timisoara Boulevard in Bucharest, and another in northern Bucharest, near the Henri Coanda airport.
Ablon intended to build offices and flats with its land portfolio, which valued at €104m three years ago. Today, it’s listed at just €47m in the last three years.
The valuation was performed by GVA Robertson and is presented in a report by Ablon Group.
