Michael Pieper, owner of Switzerland's Franke Artemis group,with 2bn-euro turnover, who also owns 10% in Carpatair, has 20hectares of land near Timişoara, where he wants to develop a "Swissvillage"-type of housing project.
"We're developing a real estate project in Timişoara, a Swissvillage, with the housing units to be sold to Romanians. Inprinciple, the price of land and of a house will stand at 100,000euros," stated Michael Pieper during an event organized by FrankeGroup in Zurich on the occasion of the company's celebrating 100years of existence.
Franke's real estate investments are less known, in the contextwhere in Romania Franke is known as a producer of luxury kitchenequipment. Franke's Romanian kitchen equipment business amounts to10m euros, down 8% from 2009.
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