Romania...

i guess (duh), funds investing in Romania

 

ING Real Estate Investment Management launched two funds investing in the CEE region: the first, ING Property Fund Central Europe LP is already closed and the new one, ING Real Estate Property Fund Central and Eastern Europe, raised EUR 1 bln at its first closing on 20 December 2006, expecting to materialize investments with a value of EUR 400 mln by the end of 2007.
 

I recall being in Italy last year and noticing all the Italians buying in Romania (hey Rico....we used to own this place  (former Roman colony of Dacia))