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BUCHAREST (Romania), November 6 (SeeNews) - Real estate developer Zacaria Group will invest 28 million euro ($31.8 million) in a business park in the city of Craiova, OTP Bank Romania which will provide financing for project said.
Southern Industrial Park will cover an area of 53.000 sq m of class A industrial space, fully equipped for activities such as storage, logistics, cross-docking or manufacturing, OTP Bank said in a press release on Monday.
Works on the project started last year. Southern Industrial Park will be made up of three buildings.
"Southern Industrial Park is one of Zacaria's most important investments and was also a winning bet, attracting investors from outside the country just a few months after the start of the first development phase," Zacaria CFO, Radu Suciu, said.
Southern Industrial Park is Zacaria’s first investment in southern Romania and comes as a response to increasing demand for premium industrial spaces in the area.
"We are delighted that we have had the opportunity to fund a representative project for the southern area of the country. We believe in the potential of the Craiova market and we are glad to be partners in the construction of this project that can contribute to the sustainable development of the local economy, " said Dragos Mirica, corporate vice president of OTP Bank Romania.
Located next to the Ford Motor production facility in Craiova, the park provides quick access to the main roads leading to Pitesti, Bucharest and the borders with Bulgaria and Serbia.
Zacaria Group was founded 11 years ago in Sibiu, in central Romania by Maltese investment group Alf Mizzi & Sons.
It currently has real estate investments in the Romanian cities of Sibiu, Bucharest, Oradea, Alba Iulia, Arad and Craiova.
($= 0.8786 euro)