Romanian real estate developer Prime Kapital announced a large-scale urban regeneration project in Cluj-Napoca, aiming to transform a 17.1-hectare industrial platform into a mixed-use multifunctional development.

The project involves developing a commercial centre of approximately 75,000 leasable square meters, a residential complex with about 1,400 high-quality apartments and an office component of over 49,000 leasable square meters, with a total development cost of over EUR 330 mln, Wall-street.ro reported.

The entire project will be served by extensive green areas, spaces and public squares, which will connect the office and retail area with the residential district and will benefit from limited car access.

Prime Kapital is a major real estate developer and investor in Romania. In 2016, it entered into a joint venture partnership with MAS PLC, a real estate investor and operator with a significant presence in Central and Eastern Europe.

Currently, in Romania, Prime Kapital and MAS PLC have in development investments of approximately EUR 2 bln that include over 14,000 housing units, over 280,000 square meters of leasable retail areas and over 150,000 square meters of leasable office areas.

andrei@romania-insider.com

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