The new space will be delivered in the spring of 2018, along with completing the first phase of the project developed by Mulberry Development, a company established by entrepreneur Ovidiu Sandor.
Many firms already operating in Timisoara have expressed interest in relocating or expanding their activity into the spaces offered by ISHO Offices. Furthermore, the developer currently is in advanced talks with several IT, engineering and services companies interested in Timisoara.
ISHO Offices will be developed in parallel with the residential component and will consist of three stages. The first phase, which will have a leasable area of 15,500 square meters, of a total 55,000 sqm of the entire office building, is due to ve delivered in the spring of 2018. In 2020, when the project will be completed, ISHO will serve approximately 5,000 employees and 2,000 tenants.
Mulberry Development has previously developed the City Business Centre in Timisoara and The Office in Cluj-Napoca, the latter of which was developed in partnership with South-African real estate investment fund New Europe Property Investments (NEPI). Both projects have attracted major companies, among which Bombardier, SAP, IBM, Deloitte, MOL Romania, Raiffeisen Bank, UniCredit, Betfair and National Instruments.