The owners of Romanian do-it-yourself retailer Dedeman, brothers Dragos and Adrian Paval, who are among Romania's richest, have bought a historic villa for about EUR 5 million, in the biggest housing deal last year, according to data obtained by Profit.ro.

The villa is located in an exclusivist central area of Bucharest, on Aleea Alexandru, close to the palace of Steaua Bucuresti (now FCSB) football club owner Gigi Becali. The property was owned at the beginning of the last century by famous trader Nicolae Hlebnikian.

The two brothers, who turned Dedeman into the most successful business developed by local entrepreneurs, have started diversifying their portfolio that now includes office project The Bridge in Bucharest, brick producer Cemacon, and significant stakes in aluminum producer Alro Slatina and in several state-controlled energy companies.

"Under no circumstances will it [the villa] be used as a home. I'm not leaving [my home-town] Bacău. We're still trying to figure out the most appropriate destination. Only the exterior of the building was restored," Dragos Paval told Profit.ro.

editor@romania-insider.com

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