Property in Brief
PROPERTY: BUCHAREST
CALEA VITAN
Plaza Romania and
Bucuresti Mall operators Anchor Group
will enter the residential segment. This
project, near Bucuresti Mall, will cost 35
million Euro and involve 500 flats, said
Ibrahim Paksoy, the general manager of
Anchor Group.
BARBU VACARESCU
Dutch firm
Cascade Group will build a new office
building this June, Park Plaza, in a 25
million Euro investment for delivery
in 2007. Dorin Stefan, who designed
the Opera Center in Eroilor, will be the
architect. The building will have five
underground levels stretching over 9,000
sqm, above-the-ground area of 18,000
sqm and will be 18-storeys high, with car
parking for 200.
CALEA VITAN
Two Romanian investors
are set to develop a shopping centre in
south Bucharest, with investments that
could reach over 20 million Euro. Vitantis
Shopping Center, will cover 30,000 sqm,
according to the broker for the project
Activ Consulting. Located near Vitan car
market, the centre will house DIY store
Praktiker and a hypermarket, according
to Activ Consulting.
PIPERA
A new Class A office building is under construction in the Pipera area in north-east Bucharest in an investment of about two million Euro, Regatta announced. The four-storey building has a usable area of 2,062 square metres and a built surface of 2,400 sqm. Construction works are scheduled for completion in October this year.
DELEA NOUA
French-Romanian real
estate firm Jules Verne Imobiliare is set
to begin construction of a ten million Euro
block of flats at the junction between
Str Delea Noua and Str Invingatorilor,
commercial director Andrei Radu told
The Diplomat. The nine-storey building,
which will be erected on a 1,500 square
metres plot of land, is scheduled for
completion in October 2007.
MILITARI
Rom Canada plans to begin
construction on a planned 60 million Euro
residential complex in Militari, western
Bucharest, according to Mediafax.
Dubbed West Park, the complex will
comprise ten blocks of flats, totalling 490
apartments with areas between 70 and
105 sqm.
PROPERTY: ROMANIA AT LARGE
CLUJ-NAPOCA
Casa Real Estate
announced it will build a luxury housing
complex in Cluj-Napoca, an investment
of about ten million Euro, according to
managing director Diana Calfa. The
project, called Bella Park, will include 50
houses, a relaxation area, a swimming
pool, tennis courts and an area especially
created for children.
SINAIA
The mountain resort will welcome
its first shopping centre this year,
following a three million Euro investment
by Winmarkt. Grand Center Sinaia will be
lodged by the current Carpati store, with
works to be completed by November,
officials said.
TIMISOARA
Italian-owned Sinergy Est
is building six blocks of flats in Timisoara,
in an investment of up to 14 million
Euro, officials said. A total of 350 new
apartments are due for completion by
March 2007, according to sales manager
Arina Teodorescu.
TIMISOARA
Real estate developer
Sedako plans to begin construction
on a 6.4 million Euro residential
project in eastern Timisoara, said firm
representative Adelin Bachner. The
project will be built on a 13 hectare
area, comprising 119 houses and with a
completion date for the end of 2007.
BACAU NORD DISTRICT
Moldovan
city Bacau welcomes its first mall-type
project, Arena City Center, in a 20 million
Euro investment, Eurisko announced.
The developer was due to start building
the mall as we went to press, with a
schedule for delivery in the third quarter of
2007. This will house 150 stores on a net
area of 20,000 sqm, with the developer
estimating that international companies
will account for 20 per cent of the total,
with local brands to fill in the rest.
REAL ESTATE LEASING LAUNCH
Romstal Leasing has launched an
alternative to mortgage loans with new
real estate leasing products. This will
enable businesses to buy a land or
building without stating the purpose for
the land and with a down payment of
five per cent. According to company’s
estimates, real estate leasing accounted
last year for about two to three per cent of
the total leasing market in Romania.