French real estate developer Ceetrus (formerly Immochan) plans to develop a mixed-use project on a 27-hectare land plot it owns in the southwestern Romanian city of Resita (88,000 population). The investment is estimated at above EUR 50 million, Profit.ro reported.

The project will be developed on the land of a former industrial platform (UCM Resita). The works will, however, start no sooner than two years. In the meantime, the investor will discuss with the municipality the best way to integrate the project into the urban development strategy.

“We have announced an office segment in the future project, but we have not yet identified potential tenants. Retail will certainly be part of the project because there is no shopping center in Resita and the inhabitants must go to Timisoara for shopping. We will also develop a recreation area, hotel services, and restaurants, because there are several festivals organized in the city, which it is a tourist area that attracts people from Timisoara or Serbia,” Ruxandra Besa, development manager Ceetrus Romania, said.

The residential area of the project will be rather limited, but the housing units will be in the upper segment of the market, with large apartments as an alternative to the small-sized ones built so far in the city.

Ceetrus is co-owner of 23 out of the 33 Auchan hypermarkets in Romania. It also owns Coresi shopping mall in Brasov (central Romania).

editor@romania-insider.com

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