Construction is set to begin very soon on Paltim, Speedwell’s newest project in the city of Timișoara after the demolition permit was received.
A new mixed-use, urban regeneration project, the aim for Paltim is to duplicate the recipe of Record Park, another project developed by Speedwell in Cluj-Napoca which is on course to be delivered this year.
The multi-purpose idea behind the scheme means the finished project will include 2,000sq m dedicated to retail and services, 287 premium apartments and 13,000sq m of office space. The first phase of the development is due in 2022 and will include 153 apartments and 12,500sq m of the dedicated office space. “Through this project, we are increasing our portfolio in Romania that already includes Record Park in Cluj-Napoca, Triama Residence, The Ivy, and MIRO in Bucharest, and Riverside City in Râmnicu-Vâlcea. We are also reconfirming the trust we have in the Romanian’s real estate market through our long-term strategy.” states Didier Balcaen, Co-Founder and Partner at Speedwell.
