RI Investment Grup, a company controlled by Irish investors, is developing a project estimated at 100 million euros in the Splaiul Independentei area in Bucharest. "Our project is a mix of hotel, residential and retail space. The hotel will be a five-star complex, with 24 levels and 960 rooms, and will be affiliated to an international chain," Eduardo Doandes, a partner in RI Investment Group told ZIARUL FINANCIAR.
The hotel the Irish will build should be among the largest in Europe and it is estimated that it will have the same capacity as JW Marriott, InterContinental and Crowne Plaza put together.
Doandes added that, for the five-star hotel, talks may be held with the Irish-based Quinn Group, which has a number of hotels across Europe.
Another major hotel project has been announced by Pro Confort, controlled by the Negoita brothers, which intend to invest some 30 million euros in the construction of an 11-storey, 1,000 room hotel ranked as three, four and five stars, situated close to the car fair in the Vitan area of Bucharest.
RI Investment Grup's project, scheduled for completion in two to three years, is located on a plot estimated at 20,000 square metres, recently bought from businessman Dragos Dobrescu for nearly 14 million euros.
RI Investment Grup's project, located in the Splaiul Independentei area, also includes a residential complex consisting of 815 apartments for the middle class, in addition to a large penthouse and more than 12,350 square metres of retail space, the RI Investment representative says.
"Our company has invested more than 85 million euros since our entry onto the market two and a half years ago, most of which for the acquisition of the class A Neocity Tower, the building on Daniel Danielopolu (Xerox Romania's headquarters) and the Raiffeisen and Eurom Bank offices in Piata Victoriei, while the rest w
