Erste, the largest financial group in Central and Eastern Europe, which owns BCR in Romania, wants to put on the market by 2030 a project through which it will develop 15,000 apartments at affordable prices, which will then be rented out.

This project is not aimed to generate profit, said Willi Cernko, the new CEO of Erste, Ziarul Financiar reported.

In the Czech Republic, the company CS Affortable Housing has already been established. In Slovakia, the project is developed together with the state, and 200 apartments will be ready this year.

Similar concepts will be developed in Romania, Hungary and Croatia, announced Willi Cernko.

This project is part of Erste's "We build financial health" strategy.

For Romania, there are no more details about what this project means and who will develop it.

andrei@romania-insider.com

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