Businessman Florentin Banu, the entrepreneur behind the Artima supermarket network and Joe wafer brand, intends to make investments of around 10m euros this August in a new real estate project in Timisoara, which will include 150 flats.
This is the second housing project developed by Florentin Banu, after selling the Artima supermarket network and the Joe wafer producer.
"The impact of the first real estate investment, which is still underway, has persuaded us to continue to make the most of this market. The homes we are building target middle class buyers, and this real estate segment continues to grow," stated Florentin Banu.
He added that besides this year's new real estate project, he had plans to start building a new housing complex in 2008 that will include 250 apartments, for which he has already acquired the necessary land.
All the projects are dealt with by the Banuconstruct company, a division of the Banuinvest group. Thus, after finalising two deals with businesses built from scratch, Banu has now entered the markets of real estate and automobiles.
Florentin Banu started real estate investments last year, through a project in Timisoara worth around 10m euros. The housing complex features 200 homes, with, so far, 60 flats finished and is ultimately scheduled for completion early next year.
Besides real estate investments, the entrepreneur from Timisoara is also involved in the car industry with Interpart Production, which produces plastic items and moulds for automobiles. Florentin Banu started this business last year and has so far invested 3m euros in the company.
Interpart Production currently carries out activities from a 2,000 square metre hall, but its management intends to build a new production centre covering a 3,000 square metre area next year. According to Banu, Interpart Production last year generated turnover worth around 1m euros. "We hope to reach a turnover of 3m euros this year and to increase the number of employees to around 100-120, from 90 at present," Banu added.
The Banuinvest group also includes Banusport company, in which approximately 1.5m euros have been invested. In addition, the group also manages a sports complex in Timisoara.
Florentin Banu runs the Banuinvest group together with his brother Daniel Banu.
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