Sema Parc real estate project, developed on a 42-hectare area on the site of the former Semanatoarea plant, will attract investments worth above 1 billion euros in the next 10 years, up over 30% from the initial figure, according to Edmond Bogdan Desliu, the new general manager of River Invest, developer of Sema Parc project.
"At present, we've looking for an urban planning firm to update the master plan of Sema Parc project, for us to connect all the areas to be developed, namely the offices, the shopping centre, the hotel and the housing area, through a central area that should include leisure spaces. In the wake of changes brought to the master plan, investments will top 1 billion euros," stated Desliu, who took over as general manager of River Invest on January 1, replacing Sorin Nistor, the current general manager of MYO Management, the company managing firms part of MYO group. Desliu previously filled the position of country manager with Premiumred, the real estate development arm of Volksbank.
The first master plan was drawn up 2 years ago by Britain's Aukett Fitzroy Robinson and in line with it the built area of the project was going to amount to around 66 hectares, but the area urban plan for Semanatoarea allows for the built area to be expanded. River Invest developer, controlled by businessman Ion Radulea, will deliver 2 office buildings this year with a lettable area of 42,000 square metres, which it sold last year to Europolis investment fund for 90 million euros.
The second stage of the office section, due to include four buildings, will also start this year, with investments topping 70 million euros. "We'll start construction works for the shopping centre, two office buildings, the hotel and the first stage of the housing area, to comprise 300 homes, with the projects entailing investments worth 480 million euros and due to be finali
