Romanian developer Nordis Group, specialized in luxury real estate projects, announced investments of EUR 31 million in a mixed-use project of 14,000 sqm in Brasov, which will include a 5-star hotel and residential apartments.

The company has already obtained the construction permits and will soon start work on the project, which will be ready in two years, according to Nordis Group representatives.

The project (pictured) will be developed on a plot of 13,000 sqm and will consist of five independent low-height buildings. It will have 158 hotel rooms and 43 apartments.

In separate news, French developer Ceetrus, controlled by the Mulliez family,  announced plans to invest over EUR 120 mln to expand the Coresi neighborhood in Brasov in the next 5-7 years, Ziarul Financiar reported. The developer still has 30 hectares on which it wants to build.

The Coresi project currently comprises over 2,200 homes, 60,000 sqm of retail space, and 60,000 sqm of office spaces.

Ceetrus started the Coresi project in 2012 on the site of the former Tractorul tractor factory in Brasov.

(Photo courtesy of Nordis)

andrei@romania-insider.com