The targeted area covers 14 hectares, where up to 20 storey-tall buildings may be built. Private investors hold 70% of the land where the centre will be developed.
Polus Real Estate and Beyfin Romania have also announced projects in the area. Tiriac Imobiliare and Germany’s LBBW Immobilien also plan to develop a project worth 80 million euros.
Investments will be 20-35% covered by the company’s own resources, with the rest of funds to come from banking loans.