Aura Buys Bucharest Site to Build Housing

Aura Investments (TASE: AURA) and another Israeli group have signed an agreement to buy land in Bucharest to build 200 housing units.

The two Israeli groups are paying NIS 13 million for the 14-dunam area, Aura advised the Tel Aviv Stock Exchange yesterday.

They expect total income from the project to reach NIS 105 million, Aura said.

Aura operates in the real estate markets of Israel, Romania and Hungary. During the last year and a half it raised NIS 230 million from investors.