Romanian developer Nordis Group, specializing in luxury real estate projects, announced investments of € 31 million.
The company has already received the building permits and will shortly begin work on the project, which Nordis Group representatives say will be ready in two years.
The project (pictured) is being developed on 13,000 m² of land and consists of five independent, low-rise buildings. It will have 158 hotel rooms and 43 apartments.
In separate news, the French developer Ceetrus, which is controlled by the Mulliez family, announced plans to invest over EUR 120 million in the expansion of the Coresi district in Brasov over the next 5-7 years, reported Ziarul Financiar. The developer still has 30 hectares to build on.
The Coresi project currently comprises over 2,200 apartments, 60,000 m² of retail space and 60,000 m² of office space.
Ceetrus started the Coresi project in 2012 on the site of the former Tractorul tractor factory in Brasov.
(Courtesy photo of Nordis)