River Development, a company owned by Ion Radulea, is building an office and residential scheme on the former Pumac site in Bucharest. The company will invest €150m into the redevelopment of the 3.2 ha. Construction on the first office building has already started. The 11-story tower, called The Light, is expected to cost €33.5m, which will be financed through the company’s own equity as well as a bank loan, according to news reports.
