Wallberg Properties, a Romanian real estate developer based in Arad, has started a new residential project in Timisoara, Western Romania, that will require a EUR 62 million investment, according to Romania-Insider.com.
The project includes 955 apartments and will be carried out in two stages, the first of which has an estimated value of EUR 36 million. The developer will build eight buildings with 16 or 11 levels.
The project is located in the city’s northern area, close to the Vox Technology Park office building. The developer targets mid-level multinational employees in Timisoara especially in the IT sector, according to Valentin Morar, CEO and owner of Wallberg Properties.
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