Romanian real estate developer Niro Investments, known as the owner of the cash-and-carry complex Dragonul Rosu in the western part of Bucharest but also the owner of several hotels in Romania's capital city and, more recently, the owner of a company holding concession rights on an island and a lagoon in the Maldives, plans to borrow EUR 25 mln from medium-sized bank Libra.

The shareholders already agreed with the loan and with using part of Dragonul Rosu's assets as collateral, Economica.net reported.

In January, the shareholders of Niro Investment also approved the supplement of a loan taken from CEC Bank in 2021, up to the value of EUR 19.9 mln and extend it for a period of 144 months until April 15, 2033. The loan from CEC Bank is intended for investments in opening the Grand Hotel du Boulevard in the centre of Bucharest.

Niro Investments has a portfolio of developed projects totalling an area of ​​500,000 square metres built, among which are the commercial and logistics centre Dragonul Rosu, office buildings, residential projects and hotels.

andrei@romania-insider.com

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