Romanian banks have turned off the spigot of lending for alllarge real estate projects, upsetting companies' plans, which aretired of listening to the same rhetoric of banks saying eligibleprojects are still financeable. "Banks prefer lending to the stateand are limiting themselves to this. For real estate, they grantloans only for small projects or to their subsidiaries with realestate activities. The idea that banks are seeking to financeeligible projects is a story we have been hearing for a year and ahalf since they've been saying 'tomorrow we start lending'. Theyhave probably not found the good projects, yet," says Ion Radulea,owner of Semanatoarea platform and of Sema Parc real estateproject. Radulea finalised two office buildings on the banks ofDambovita, across from Regie complex, which he sold to Austria'sEuropolis for over 100m euros, but he now has a hole five metresdeep for the foundation of the second stage of the project forwhich he is still seeking bank financing.
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