The Austrian-owned company Porr Construct, which last year completed the fourth section of the Sebeș – Turda motorway, is entering the Romanian real estate development market with two hotel projects in Bucharest, totaling 410 rooms, and is analyzing potential investments in the private healthcare sector.
Currently, Porr Construct has entered into two distinct 50-50 partnerships with foreign investors, through which it expects to begin development this year of a 4-star hotel in the Pipera business area and to transform an old office building in central Bucharest into another 4-star hotel. The two hotels will be operated by international brands.
Klaus Bleckenwegner, CEO of Porr Construct, stated that their share of the investment amounts to approximately €50 million, with the total being nearly double. One of the hotels will have 230 rooms, and the other 180 rooms.
Source: Profit
Frequently Asked Questions
What is Porr Construct’s total investment in the Romanian hotel market?
Porr Construct is investing approximately €50 million as its share in two hotel projects, with the total project value estimated at nearly €100 million.
Where will the new hotels be located?
The two 4-star hotels will be located in Bucharest: one in the Pipera business district and the other in the city center.
How many rooms will the new Porr Construct hotels have?
The two hotels will provide a total of 410 rooms, with one featuring 230 rooms and the other 180 rooms.