Irish businessman Michael Whelan has started the authorization process of a residential project, a decade after his real estate group went into liquidation with debts of EUR 300 million. The project will be developed on the site of the former vinegar factory in the Obor area of Bucharest, on a plot of approximately 7,700 sqm. The project provides for the construction of two blocks with 3 and 4 floors and a number of 158 apartments
In 2012, Whelan’s group went into liquidation with debts of EUR 300 million. In recent years, however, Whelan has also involved his son in the business and has returned to the Irish residential market with new projects.
Source: Profit.ro
