BUCHAREST (Romania), December 12 (SeeNews) – Romanian real estate developer Meta Estate Trust [BSE:MET] said on Monday that it started a partnership with local real estate holding company Rock Development for developing projects in the Poiana Brasov area, near the central city of Brasov.
Meta Estate Trust acquired 5% of Rock Mountain, an entity involved in the development of real estate projects in Poiana Brasov, it said in a filing with the Bucharest Stock Exchange (BVB) on Friday.
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In another filing to the BVB on Friday, Meta Estate informed investors about the conclusion of a shareholder loan agreement worth 1.05 million euros ($1.1 million) with Rock Mountain. The loan supports Meta’s decision to invest in the projects developed by Rock Mountain in Poiana Brasov.
“We are happy to announce the entry into the shareholding of Rock Mountain alongside Rock Development Holding. Meta Estate Trust will contribute by engaging in this real estate project, to the development of the Poiana Brasov resort,” said Oriol Casellas Deig, CEO of Meta estate trust.
Meta Estate Trust is a Romanian real estate company established in 2021. Since its formation, the company has invested over 21 million euros in 24 real estate projects.
Earlier this month, Meta said that it booked a profit of 1.46 million lei ($313,000/297,000 euro), following a partial exit from one of the projects in its portfolio in the capital Bucharest.
Its shares last traded 4% lower at 0.8640 lei as of 1627 CET on Friday on the AeRO market of the BVB.