Meta Estate Trust, a real estate holding company listed on the Bucharest Stock Exchange under the symbol MET, has bought Poiana SPV 6814 SRL, for 1.25 mil.
EUR.
This transaction was concluded with the aim of strengthening Meta Estate’s position in Poiana Brasov, an area of investment interest, and further guaranteeing Meta Estate’s shareholders’ investment to date.
Rock Development Holding wants to build in Poiana Brasov a Kempinki hotel on the lakeside of the resort, in front of the Aurelius hotel and an aparthotel between Șura Dacilor and Împăratul Romanilor, 300 meters from the lake.
Meta Estate Trust announced in December that the developer of the Neagoe Basarab project in Poiana Brasov, in which the company has invested 1.5 mil.
EUR has entered into a partnership with the Accor Group, one of the world’s largest hotel groups, to open the Swissôtel hotel from 2024.
“The two transactions reflect a dynamic start to 2024 for Meta Estate Trust, with our team taking concrete steps towards achieving our set goals.
Through these transactions, we have, on the one hand, leveraged our existing investments to maturity, yielding attractive returns for investors.
On the other hand, since taking office, my team and I have been focused on portfolio consolidation.
To this end, we have sought to secure the company’s strategic position in relation to the investments made,” said Alexandru Bonea, CEO of Meta Estate Trust.
In the first three quarters of the previous year, Meta Estate Trust recorded revenues of 15 mil.
RON, an increase of 35% compared to the same period in 2022, and a net profit of 7 mil.
RON, an increase of 90%.
Investments during the period totaled 107 mil.
RON, up 9% compared to the end of 2022.
MET shares experienced a downward trend in 2024, falling 13% and 23% respectively in the last year.
Meta Estate Trust’s current market capitalization is 61.7 mil.
RON.
Meta Estate Trust buys the company owning the land for the aparthotel project developed by Rock Development Holding
