Romanian investor Ovidiu Sandor plans to build an office project on a five-hectare plot in Timisoara that he acquired last month.

Sandor previously announced that he would also develop a residential complex with 1,200 apartments on the same plot.

The office project will be built in three stages. The first one, with a rentable area of 18,000 sqm, will be delivered in the third quarter of 2018, reports local Economica.net. As for the residential project, the first apartments will be up for sale in the next months, Sandor said.

The plot was previously owned by the Romanian investor Ovidiu Tender. It hosted a fleece manufacturing plant.

Sandor, who owned a textile factory in Timisoara, used the land to develop the City Business Centre Timisoara project, which he then sold to the investment fund NEPI for EUR 75 million. Sandor and NEPI have also developed The Office project in Cluj-Napoca.

editor@romania-insider.com

(photo source: Ovidiu Sandor on Facebook)