Romania, OMV Petrom sells land in northern Bucharest

Published on 10. August 2021., SEE Energy News

The largest Romanian oil and gas company OMV Petrom sold two plots of land in the northern part of Bucharest, in the so-called Petrom City, to companies controlled by local entrepreneurs Dan Sucu and Raul Doicescu. The deals are estimated at a combined value of over 20 million euros.

Doicescu’s Bog’Art group, through development company Art Property, and Sucu’s Mobexpert furniture producer and retailer, plan a mixed project to be built on the two lots, including 1,500 homes, a hotel and a hospital. Bog’Art bought a lot of 26,000 square meters, and Mobexpert a lot of 43,000 square meters, and the average price was 290 euros/square meter.

This would be the second association between Mobexpert and a construction company after Dan Sucu developed the Arcadia project in the Domenii area of Bucharest together with Valentin Visoiu, the owner of the construction company Conarg.

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