Australian group banks on middle class taste for suburbia
Australian-based South Pacific Group is planning a 50 million Euro project for Ministry of Defence personnel for 1,100 houses in Ghencea, which was in the process of Government approval as we went to press. This is part of a planned programme that could see a total of 10,000 residences all over Romania for the Ministry over ten years.
Road to Pitesti sees distribution centre blitz
US-based industrial space provider ProLogis Trust is developing its first project in Romania on the country’s primary transit corridor, the A1 Motorway to Pitesti.
The publicly held developer and owner of distribution facilities said it has acquired 69 acres of land west of Bucharest at an estimated 65 million Euro (80 million USD), according to GlobeSt.com
Property of the month: Villa package boasts peculiar details
FOISORUL DE FOC In a quiet avenue near the Greek Embassy, this interwar villa with idiosyncratic details is up for sale for one million Euro from real estate firm Stentor.
This former local Government office could be attractive for an investor to buy up, renovate and then sell on or rent to one or more companies in the professional services sector or as a headquarters.
Plaza sees new housing project
STR LUJERULUI Turkish owner of Plaza Romania and Bucuresti Mall, Anchor Group, has announced a new residential project close to its new 25 million Euro office building Anchor Plaza.
Property in brief
SOS PIPERA Tennis foundation Ilie Nastase is building a 55 million Euro sports complex over a 63,000 sqm area on Sos Pipera No. 38. This will include two indoor clay tennis courts, eight outside courts, two squash courts, offices, a swimming pool, an arena with 10,000 seats, water park, an artificial ski path and climbing facilites, plus a three star hotel with 200 rooms and parking for 2,000. The foundation will also renovate nearby Aurel Vlaicu metro station.