French real estate developer Immochan, retailer Auchan’s real estate arm, has concluded a partnership with German-Romanian investor Daniela-Cristina Kasper for developing 3,000 apartments on a former industrial platform in Brasov.

The residential compound Coresi Avantgarden will be located on a 46-ha plot on the former industrial platform Tractorul Brasov, which used to be one of the biggest tractor factories in Eastern Europe. Kasper will build 150 apartments in the project’s first phase, the construction work being set to start in March-April 2016.

Both partners will finance the project, and Avantgarden Immo Invest, the company owned by Daniela Kasper, will be the project’s developer. The whole cost is estimated at EUR 100 million.

Immochan owns the former Tractorul platform on which it has already opened a shopping center, Coresi Shopping Resort.

editor@romania-insider.com