Romanian entrepreneurs Dragos and Adrian Paval, the owners of the DIY retailer Dedeman, bought three plots of land with a cumulative area of ​​about 11 hectares near the American School in the Pipera neighbourhood in northern Bucharest.

The seller is Suzan Taher, the eldest daughter of Fathi Taher – one of the most influential businessmen in Romania and former owner of the Rapid Bucharest football team.

The plots of land are located between the American School, founded by Fathi Taher, and the ring road of Bucharest, an area populated with premium residential complexes such as Oxford Gardens or Ibiza Sol.

"A decision has not yet been made regarding the intended use of these lands," Dedeman representatives told Profit.ro.

The land could best fit for residential and retail development. Given the large area of ​​land accumulated by the Paval brothers and the neighbouring residential complexes, a possible residential project developed here would have hundreds of apartments.

iulian@romania-insider.com

(Photo source: Ronstik/Dreamstime.com)