The Rothschild family of bankers are poised to invest in Romania via a partnership with Israeli company Ocif Group, which targets projects worth at least 200 million euros over the next two years. The first project to be developed by the two partners is the residential Vivando Unirii complex, which entails a total investment worth some 25 million euros and is held equally by Rothschild and Ocif. In Romania, Rothschild also operates through TriGranit Development, where Nathaniel Rothschild owns approximately 10%, and through a partnership with other Israeli investors - the shareholders of Euro Habitat, the developer of the Planorama project. Ocif Group is listed on the Tel Aviv Exchange, but also operates in Bulgaria and Russia. "We have had the land for the Vivando Unirii project for two years. If we had started the project last year we would probably have sold it at 1,100 euros/square metre," says Avner Bar, general manager of Ocif Group Romania, commenting on the opportunities the local residential market currently provides, amid increasingly fierce competition among developers.
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