Real estate developer Westhouse Group will release four residential projects in Romania this year

Real estate developer Westhouse Group will start developing four residential projects in Romania this year, which will provide some 4,500 dwellings. The four residential complexes should be ready in 2011-2012.

Westhouse Group plans to invest 1.5 billion euros in real estate projects in Romania by 2014, for some 1,500 dwellings annually.

The company started to build three residential complexes last fall in the Southeastern county of Constanta, following 50 million euros investment. They will include 540 apartments and 525 parking places. Westhouse Group plans to carry out other 16 projects in Bucharest and countrywide.

Westhouse Group was set up in 2005 and is owned by RomReal, a company with Norwegian shareholders. It is listed at the Oslo Stock Exchange and is very active on the East European real estate market.

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