Prime Kapital and MAS RE plans 2,300 homes on land purchased in Timișoara
Prime Kapital and MAS RE has bought Spumotim factory land in Timișoara, where the developers have plans for the construction of about 2,300 homes. The investment budget is around EUR 194 million. In addition, the companies are in the process of due-diligence for the acquisition of another plot of land in a secondary city with a potential of around 1,000 new apartments.
"We focus on the regeneration of former industrial platforms, transforming these spaces into neighborhoods with integrated functions and quality green and leisure areas. The development strategy on the residential market is on schedule and we maintain our medium-term objective of delivering 2,000 homes per year, in several cities in Romania," says Maggie Kitshoff, Office and Residential Partner at Prime Kapital.
In addition to the residential part, the Prime Kapital and MAS RE plans foresee investments of over EUR 250 million in two office projects, in Iasi and Cluj-Napoca.