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Immofinanz: Ownership Problems in Romania
Politics ♦
Published: April 17, 2014; 11:56 ♦ (Vindobona)

According to a court decision Immofinanz has took over not legitimately acquired property in Transsylvania.

During the booming years in the real estate sector, before the outbreak of the financial crisis, Immoeast, the Romanian affiliate of Austrian real estate company Immofinance, purchased a shopping center, which, according to a court decision, was not built on legitimately acquired property. The property and so-called “Polus Center”, at the suburbs of Cluj-Napoca in Transsylvania, was…
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