Biris Goran assists Vastint Romania, member of IKEA, in a 48 hectare land acquisition in Bucharest

A company member of Inter IKEA Property Division, Vastint Romania was assisted by law firm Biris Goran in a 48-hectare land acquisition in the Gheorghe Ionescu-Sisesti road area of Sector 1, Bucharest.Vastint intends to develop the site into a mixed-use development, with a focus on residential.  The team was formed of real estate senior associate Mariana Signeanu, associate Radu Jianu, and partner Victor Constantinescu.

The IKEA group is one of the largest landowners in Romania through it's portfolio of forests. Currently, the Swedish group is preparing investments in three real estate projects in Bucharest, with the intention of opening new stores in major cities. Currently Romania has only one IKEA store located in the Northern part of Bucharest and plans the second store on Pallady Avenue in Bucharest on a land of 14 hectares acquired in 2015.