Bermo Group Arad: residential projects worth 80m euros

Bermo Group Arad, one of the leading real estate developers in the West of Romania, has real estate projects worth 80 million euros underway, in Arad and Brasov. "Having acquired land in Brasov, we intend to expand nationwide. The company owns two plots in Brasov, with a surface area of 10,000 square metres and 14,000 square metres respectively, where it intends to develop projects with investments worth 40 million euros," said Valentin Morar, the company's manager. The main shareholders of Bermo Group are Imotrust, which holds 58.25% of shares and businessman Valentin Morar, with 41.74%. Bermo Group generated turnover worth approximately one million euros last year. For 2007, the company's management estimates 20% turnover growth.