Hungarian developer Trigranit said it has received the green light from the government of Romania for the development of its EUR 1bn Esplanada project in Bucharest. The development, a private-public partnership between Trigranit and the Romanian government, is scheduled to start in the second half of 2009. 'The negotiation process was long and very complicated for all parties, but the result is remarkable. The contract offers advantages for everyone involved,' said Dan Ghibernea, country manager of Trigranit Development Romania.
Hungarian developer Trigranit said it has received the green light from the government of Romania for the development of its EUR 1bn Esplanada project in Bucharest. The development, a private-public partnership between Trigranit and the Romanian government, is scheduled to start in the second half of 2009. 'The negotiation process was long and very complicated for all parties, but the result is remarkable. The contract offers advantages for everyone involved,' said Dan Ghibernea, country manager of Trigranit Development Romania.
The Esplanada project will incorporate a cultural centre, a shopping mall, office and residential buildings and hotels for a total 800,000 m2 of space. About 20% of the site will be destined to green areas, while a further 270,000 m2 will accomodate parking facilities.
Trigranit is a real estate investment, development and management company active in 11 countries in Central and Eastern Europe. The company has a pipeline of over EUR 8.5bn of major mixed-use developments.
