Net debts held by Fabian Romania, the company businessman Dinu Patriciu has recently taken over in a deal that puts it at 50m euros, amount to 76.1m euros, according to the data the company submitted to the LSE. Domestically, Fabian is involved in 11 real estate projects, with a market value estimated at 138.3m euros late last year, for which loans worth 76.1m euros were taken out and own resources of 42.2m euros were earmarked.

The biggest loans of the company were pre-contracted for the development of apartments part of New Town housing complex of Bucharest (19.4m euros) and for the acquisition and refinancing of two office buildings in Bucharest, namely Baneasa Business Center (19.1m euros) and Cascades Business Center (13.6m euros).

At the end of 2008, the company held cash worth 11.7m euros in its accounts, according to the same report, in which the value of finalised office buildings dropped by around 10%. Thus, Cascades Business Center in Piata Victoriei, was valued at 16.7m euros, down 10%, the same percentage the value of Banu Antonache Office Building in Floreasca, also lost, being valued at 16m euros. On the other hand, the value of Baneasa Business Center, which Fabian planned to sell early last year, shrank by only 7%, to 27.5m euros, while Evo Center building in Pipera, bought from Adama, dropped below the acquisition price (4.9m euros), being valued at 4.6m euros.

The company will have other operational projects in its portfolio in the following period, with the first stage of New Town complex of Dristor to be delivered this April (315 units), while Cubic Center office building in Pipera will be finalised in March. Lakeview and Romana Office office buildings are scheduled to be finalised next year, while the housing complex projects in western Romania (Timisoara, Arad and Satu Mare) have been delayed until housing market conditions