The Greek investment fund Global Emerging Property Fund (GEPF), managed by Global Finance, announced its intention to develop a 140 million-euro commercial project. The real estate project will take three stages to develop and will include office buildings and commercial space, according to GEPF representatives. The investment fund recently acquired six hectares of land in the Pipera area from Gigi Becali, one of the biggest landowners and backer of Steaua football club. The transaction for the plot of land stood at as much as 15 - 16 million euros, with Becali already having received the money for it. This was the first deal made by GEPF in Romania, a fund launched last year with an initial capitalisation of over 125 million euros. Long-term investments could reach 450 million euros, to be funded both from the fund''s capital and from loans. GEPF''s strategy focuses on developing office projects, commercial space and logistic parks. ZF
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