RomReal :Final pending Land Bank Sales Agreement concluded 31 March 2017
On 2nd January 2017, RomReal announced two conditional sales agreements totaling gross EUR 17.75m before tax/sales commissions. Following the completion of the EUR 15.1m Mamaia North sale on the 29 March 2017, the second pending Land Bank sales Agreement, Morii Lake, was completed on Friday 31 March, 2017 for a gross amount of EUR 2.65m as previously agreed.
The total price for Mamaia North is set to increase by another EUR 0.4m, if a RomReal subsidiary is to win an on-going legal dispute with the local municipality regarding 1,453 sqm part of the plot.
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