Residential neighbourhoods are all the rage. Investments in Romanian real estate are also trendy. At least this is the opinion of Liviu Nistoran, the businessman who feels that his money will rapidly multiply not only in telecoms, but also in a realty startup.
Liviu Nistoran, the general manager and main shareholder of NetCom (a distributor for wireless communication equipment) is planning to build a residential district in Corbeanca, right across the street from the estate of businessman Cristian Tantareanu.
The first three houses (in which Nistoreanu has already invested about $250,000) will be ready by next spring. "We want to put less expensive houses on the market, but they must not necessarily be low-end. A one-story house, with 130 square metres in usable space and a built area of 200 square metres will cost some 70,000 euros. These are homes for the middle to high class. The potential customers must have a family income of some 800-1,000 dollars monthly. With a 20-year loan, the monthly instalments would amount to some $300," Liviu Nistoran says.
The businessman bought three hectares of land in Corbeanca and is in talks to buy other pieces of land, as well. Next spring will also bring the marketing campaign for the new residential district. The total investment revolves around $1 million and Nistoran is looking to attract some $1-2 million in international financing in order to complete his Corbeanca project. "I am now in talks with a venture capital company," says Nistoran, admitting he would rather want a strategic investor for this business. Liviu Nistoran says he started building homes because "it is trendy and easy."
His second startup is NetCom, which has been operating on the telecom equipment distribution for less than a year and promotes state-of-the-art communication technologies, mainly WLAN (wireless local area network). iuliana.susanu@zf.ro
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