Pharmaceutical producer Biofarm sold a EUR 5 million plot of land to Iancu de Hunedoara Residence SRL. The land, located at 40-42 Iancu de Hunedoara Boulevard in Bucharest, covers an area of 6,700 sqm and formerly hosted the Chemical-Pharmaceutical Factory No. 2.
The transaction was brokered by Crosspoint Real Estate, which represented both the seller and the buyer.
Iancu de Hunedoara Residence SRL will build a residential complex comprising approximately 100 apartments on the acquired land.
Biofarm is a Romanian pharmaceutical company with a history of over 60 years. The company is headquartered in Bucharest and has a significant presence in the local market.
SIF Muntenia is the largest shareholder of Biofarm, holding a 51.6% stake.
The sale of the land by Biofarm represents a development opportunity for Iancu de Hunedoara Residence SRL. The land is located in a central area of Bucharest, with high potential for real estate development.
The transaction is also beneficial for Biofarm, which will be able to reinvest the proceeds into the development of its pharmaceutical business.
Frequently Asked Questions
What is the value of the land sale by Biofarm?
The land was sold for 5 million EUR to Iancu de Hunedoara Residence SRL.
What will be built on the site located on Iancu de Hunedoara Boulevard?
The buyer plans to develop a residential complex featuring approximately 100 apartments.
Who is the majority shareholder of Biofarm?
SIF Muntenia is the largest shareholder, owning a 51.6% stake in the pharmaceutical company.