Heberger business down 30% due to lack of contracts

Heberger Constructii, Romanian subsidiary of German constructions company Heberger, estimates an around 30% turnover decline for this year, to 35-40 million euros, due to a reduction in the number of new contracts signed, on a frozen real estate market. "It is hard to give a budget estimate for this year. At present, we have contracts underway worth 20 million euros, so 35-40 million euros would be a reasonable figure," Klaus Kegel, general manager of Heberger Constructii, told ZF. The company is known on the Romanian market for building Bucharest Business Park. Heberger Constructii posted 67 million euros in turnover last year, up 50% against the preceding year, because of the major contracts underway - the building of the Floreasca Business Park (62 million euros), of the Residenz residential complex, developed by Tiriac Imobiliare (45 million euros), and of the Bucharest West logistical project (3.5 million euros).