Property developer and investor Prime Kapital has unveiled plans for an urban regeneration project in Cluj-Napoca, on a land plot of 17.1ha that previously hosted an industrial platform.
The company plans to develop a shopping centre spanning 75,000sq m, offices with a leasable area of more than 49,000sq m and a residential component with around 1,400 apartments following an investment of more than €330M. The developer said it would invest another €10M in the road and educational infrastructure in the city.
“Our development proposal reduces the need for additional transportation services by optimising the use of existing infrastructure and making a major contribution to planned public infrastructure that will unlock long-term community benefits,” said Maggie Kitshoff, Partner Office & Residential at Prime Kapital.
Prime Kapital’s project will lead to the creation of over 9,000 permanent jobs and support a total of 3,000 jobs in the construction industry.
At present, Prime Kapital and MAS PLC have investment plans in Romania worth €2bn including over 14,000 residential units, over 280,000sq m of retail leasable space and over 150,000sq m of office leasable space.
