Trigranit begins work on EUR 510m development in Romania

Hungarian Developer Trigranit said the cornerstone has been laid for a major mixed-use development in Cluj Napoca, Romania. The development, known as Cartierul Tineretului, will see the creation of a new residential district in Cluj Napoca on a 230-hectare site.

Trigranit said estimated investments for the development, which it called the most ambitious project on the local market in the last 20 years, totalled EUR 510mln. The first phase of the project should be completed in the fourth quarter of 2009. Along with 6,000 residential units, Trigranit said that Cartierul Tineretului would also include schools, hospitals, churches, sport fields, administrative buildings, a police station, fire department, post office, banks, shopping centres and hypermarkets.

The Hungarian company is present in 11 countries in Central and Eastern Europe, with an EUR 8.5bn pipeline of major mixed-use development projects.