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Romanian Devt Ministry May Finish Constr Started By Developers In Distress

Local authorities may buy certain apartment buildings started by private developers in distress, then the Romanian Ministry of Development, Public Works and Housing, or MDRL, would finalize and deliver them to city halls.
Romanian Devt Ministry May Finish Constr Started By Developers In Distress
30 ian. 2009, 18:36, English

"I am not in favor of buying, it is not even legal at the moment, we cannot buy structures started by private developers," development minister Vasile Blaga said Friday in a press conference, adding that the ministry could only take over the real estates from the local public authorities.

Blaga said the local authorities are the only to decide on buying the unfinished buildings, that would be subsequently taken over by the ministry and finalized.