With investments of over 85 million euros planned for 2023, Canadian investor Michael Topolinski, founder of the family business InteRo Group, believes that the long-term economic and business potential counterbalances the current risks in Romania.
Michael Topolinski, Investor: Romania currently has among the lowest real estate prices in Europe, leading to a promising opportunity for price increases in the future.
Skylight Residence SRL, owned by the Topolinski family of investors, won the last appeal against the State Asset Management Authority (AAAS) in the case of the privatization of the Aversa factory, after the Bucharest Court of Appeal decided that the developer had fulfilled all the obligations imposed by the auction held in September 2013.
Bright Spaces and InteRo Property Development enter the age of integrated 3D web digital experience for residential assets. The two companies announced their partnership this year and are now proud to launch InteRoVerse.
InteRo Property Development, owned by the Canadian Topolinski investors family, will develop a total of 550 student spots in its SkyLight Residence project, following an understanding with the District 2 City Hall and a survey it carried out among district’s residents.
InteRo Property Development, owned by the Topolinski family of Canadian investors, has development plans with a combined value of 54 million euros in their first premium residential project and, respectively, a villa complex, with construction work to be launched in the second half of this year.
The developer’s first premium project, with 200 apartments, will be located in Pajura, in the north of Bucharest. InteRo recently completed the full acquisition of a plot of land which, together with an adjacent plot of land it already owned, covers an area of 8,000 square meters.
In Romania’s history, 2006 is remembered as the year when the mandatory military service was abolished and the big anti-corruption offensive began. It’s also the year when Canadian-born Michael Topolinski first came to the country. The thriving economy, mesmerizing consumers with the promise of a better life, made the young investor realize the long-term potential of Romanian Real Estate, which outweighed the risks and challenges one can expect in an emerging market.
On the Bright Spaces platform, the InteRoVerse project takes the residential customer journey to the next level, by offering buyers exclusive access to virtually viewing and experiencing the InteRo real estate portfolio
Bucharest, December 16, 2021 – The Topolinski family through InteRo Property Development donated 750,000 medical masks to United Way Romania in December, to be distributed to people from disadvantaged backgrounds, supported by the foundation’s programs.
Canadian businessman Michael Topolinski is investing 10 million euros, from his own liquidity reserves, in the completion of a block of 280 apartments whose construction was stopped at the “red” stage by the brothers Robert and Ionuț Negoiță, according to the information obtained by Profit.ro.
Late last year, Michael Topolinski, CEO of InteRo Property Development, sold half of the 52,000 sq m land of the Dacia Textile platform near the Jiu subway station to Skanska. The project will have seven office buildings, three of Skanska and four of InteRo. In March 2020, the companies obtained the urbanism certificate from the City Hall of Sector 1 and will obtain the PUZ from PMB and then the building permit.
Michael Topolinski made his first Real Estate investment in Romania in 2006. What was initially just business eventually became the milestone for a new life for himself, his children – 29-year-old Michael IV, Ashton (25) and Tyler (27), and his mother Edith (79), the latest from the family to move to Romania.
InteRo Property Development, owned by Canadian Topolinski investors family, diversifies activities by establishing an investment division, as part of its long-term strategy to consolidate its presence in Romania and bring new, high-quality real estate projects to a developing, promising market.
Canadian businessman Michael Topolinski sold half of the land of the former Dacia Textile factory in the New Bucharest neighborhood to the Swedish company Skanska for over 23 million euros, a price at which it becomes the largest land transaction of the year, according to Profit.ro sources.
MVGM Group, the international property management company, enters the Romanian residential market, by taking over the management of the NorthLight Residence residential project near Cosmopolis. Built by Swiss Grain, the project was taken over last summer by the Topolinski family.
Skanska acquired a plot of land of approximately 26,200 square meters in Bucharest from InteRo Property Development SRL. The land is intended for the development of a new office complex and is located in the northern part of the capital, in the immediate vicinity of the Jiu metro station.
Naguma Medical Supply, part of InteRo group, has successfully delivered all 103 million 3-ply masks for Romanians in need, as part of the contract signed with the Ministry of Health.
In the context of the COVID-19 pandemic, the United Way Romania Foundation provided support for the safe return of children to school, through an important donation of the company Naguma Medical Supply SRL of 1,200,000 protective masks.
In February, United Way Romania sent 1,200,000 protective masks to schools, kindergartens, educational centers in Bucharest, Cluj and Timisoara and in neighboring areas. This need was calculated for a number of over 12,000 people, over a period of 3 months.