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Speedwell invests 40 mln euro in mixed real estate project in Romania

Speedwell invests 40 mln euro in mixed real estate project in Romania Romania, Cluj-Napoca

BUCHAREST (Romania), December 12 (SeeNews) - Belgian real estate developer Speedwell said on Wednesday it is investing 40 million euro ($45.5 million) in a mixed project in Romania's northwestern city of Cluj-Napoca.

Record Park Cluj-Napoca project is being developed on a 17,000 sq m land plot and will include 236 apartments, 12,000 sq m of offices, 1,000 sq m of commercial space and 7,000 sq m of green spaces, Speedwell said in a press release.

The company said it has signed contracts for 120 of the 158 apartments being build in the first phase of the project.

Record Park is Speedwell's first project outside the capital Bucharest.

Although the Bucharest market remains one of the main points of interest of the company, Speedwell continues to analyse other secondary cities such as Ramnicu Valcea, Ploiesti, Trei Brazi and Galati, it said.

In Bucharest, Speedwell recently completed the construction of the Unirii View office tower and started building the Triama Residence residential project, consisting of 202 apartments.

In addition, Speedwell acquired a 70,000 sq m land plot in  Baneasa area and intends to start a new 25,000 sq m residential and office complex with unique features for the Bucharest market. Both projects will be started in the second half of next year.

Speedwell has offices in Cluj and Bucharest.

So far it has developed projects worth over 600 million euro worth and has others worth 400 million euro in the pipeline in Eastern Europe.

($=0.8785 euro)