Real estate developer MediaCity has attracted an investment of EUR 18.7 million from Immo Rominvest, the investment vehicle of Belgian entrepreneur Peter De Cuyper, following a capital increase through which the new investor ends up owning 33.3% of the MediaCity business.
The attracted capital will remain entirely in the company and will be used for the simultaneous development of several projects, increasing investment capacity and expanding into new markets in Romania, the developer announces.
In parallel, the company is preparing new residential developments, and in October it will begin work on Titan Premium Apartments in sector 3 of the Capital, which will include 451 apartments and approximately 2,100 square meters of commercial space.
“MediaCity has reached a point where it can support multiple developments simultaneously and can think about growing the company on a larger scale,” says Andrei Sandu, founder and CEO of MediaCity.