Bermuda Stock Exchange listed company Fabian Romania continued to go from strength to strength according to its half-yearly interim results.

The AIM quoted dedicated Romanian real estate investor announced a 14 percent increase in net asset value per share from 1.356 euros at the end of last year to 1.548 euros for the first six months of 2007.

It also executed or committed nine investments totalling 62,850 square metres of lettable office space in Bucharest together with 443 residential apartments.

Two investments committing a total of €24.9 million ($39.7m) were executed during the half year, with a share of the market valuations of these investments totalling €30.6m ($43.5m) at June 30 before deducting the outstanding non-recourse bank financing of €15m. On gross assets, this represents an uplift of 23 per cent from the original investment.

Three further investments were also announced, committing approximately €22m in aggregate, which will equate to approximately €15m in equity post debt drawdown, while all five investments are expected to require around €21m of equity.

During this period, considerable progress was made in converting five deals from the strong pipeline. These announced transactions commit around €21m of the December 2006 equity fundraising proceeds.

Jaroslav Kinach, chairman of Fabian Romania said: "Cash balances of around €29m as at June 30 2007 provide us with significant scope for further investments and approaching €17m of equity to allocate after allowing for existing commitments.

"We have a very strong and capable management team and are taking advantage of our growing experience and market reputation to capitalise on opportunities in the exciting Romanian real estate market.

"We look forward with confidence to creating further value for shareholders through the portfolio of existing investments and the attractive pipeline."