Prime Kapital launches EUR 330 mln Cluj project

US real estate investor Prime Kapital has announced that it is to develop a large-scale urban regeneration project on a brownfield site in Cluj-Napoca in northwest Romania. The 17.1 ha industrial site close to the city centre is to be redeveloped into a multifunctional complex in an investment of more than EUR 330 mln, according to Eurobuildcee.com.

It will feature a 73,300 sqm gla shopping centre, 1,461 apartments (113,500 sqm gsa) and 49,200 sqm gla of offices.

The project will also include a contribution to the local authorities’ plans for the development of the city’s infrastructure.

Prime Kapital’s local investment partner is MAS REI, which has a 40 pct holding in the project.

Read more HERE

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