M1 Group and Helios Phoenix want to enter the residential market in Cluj and Năvodari

The Lebanese group M1 Real Estate, the real estate division of the M1 group, has started the first phase of a large-scale logistics project in Craiova, which can be valued at around EUR 240 million, and is preparing to enter the residential market in Cluj and Năvodari, all these projects to be carried out in partnership with the Greeks from Helios Phoenix.

The two partners want to build a large-scale project on an 80-hectare plot of land located in the north of Craiova. The first phase of this project will deliver 30,000 sqm of halls with a completion date of the last quarter of next year.

Another point recently added to the development map of M1 Real Estate and Helios Phoenix is Oradea, where in October the construction of a first phase of a new logistics project will begin. This stage, which will have an area of 6,000 sqm, is already pre-leased by Returo and future expansions are planned.

Loredana Oprișa, leasing and development manager of Olympian Parks, revealed the fact that the two partners plan to realize mixed residential projects with commercial spaces in Cluj and Năvodari, but from 2026.

Source: Profit.ro