Romania’s Constructii Erbasu to build 10 mln euro hotel in Oradea

The 3,981 sq m land is located in the central area of Oradea, in the vicinity of several cultural institutions, the council said in a press release on Thursday.

The 25-year contract stipilates that Constructii Erbasu must pay the council a fee of 7.5 euro per sq m annually for a total of 746,437.5 euro for the entire site, over the full duration of the contract.

The investment will be made in four phases and is projected to be completed within two years and ten months.

Construction works are expected to commence during the autumn of next year, Bihor county council president Ilie Bolojan said.

The planned 280-guest hotel will have a built-up area of 1,280 sq m and a parking lot for 18 cars.

Constructii Erbasu was founded in 1990 and in 2021, it booked a net profit of 33.4 million lei ($7.3 million/6.8 million euro), while turning over 654.2 million lei and employing 834 people, latest data from the finance ministry reveals.

($=0.9403 euro)