Real estate investment fund Fabian Romania Property, listed on the London Stock Exchange, has reappraised seven of its nine properties in Bucharest and Timisoara at around 105 million euros, an increase of almost 43% on the original acquisition price paid by the company. Real estate consultancy firm DTZ Echinox conducted the appraisal. The most significant increase in market value was registered by the New Town residential project in Bucharest, which is developed in partnership with the Irish at Mivan. The current value of the New Town project is estimated at 17.4 million euros, triple its value in June (5.8 million euros). Construction, however, has advanced in the meantime. Fabian also witnessed a significant increase in its residential project in Timisoara, which was appraised at 1.6 million euros at the end of June. As a result of the reappraisal, the project value increased by 120% to an estimated 3.5 million euros. There are six investment funds listed on the London Stock Exchange on the domestic market, which own real estate projects that are either completed or in various stages of completion, and worth over one billion euros.
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