Italian group FRI-EL Green Power, one of the largest renewable energy producers in Italy, announced that it would invest over EUR 80 million in developing Ateneo Timisoara.

The developer claims this is the biggest residential project under development in the western part of Romania.

The Italian group registered in 2019 revenues of EUR 226.5 mln and a net profit of EUR 62.3 mln.

It operates power generation facilities with an installed capacity of 1GW, out of which 950MW in wind farms. FRI-EL Buildings, a local investment vehicle of the Italian group, will develop the residential project in Timisoara.

The complex should include 1.300 apartments and a vast list of amenities and facilities.

“We found here a residential market in full development and a real demand for smart partitioned apartments at competitive prices but, more importantly, for apartments part of integrated projects, with multiple facilities specific to a new lifestyle,” explained Luca Cainelli, CEO FRI-EL Buildings Romania.

(Photo courtesy of the company)

editor@romania-insider.com