Centrofarm obtained the building permit from the Bucharest city hall in February 2012.
Contacted by MEDIAFAX, Centrofarm representatives declined to provide information on the project. However, according to publicly available data, construction works set off in February 2014 and are due for completion in February 2017.
Centrofarm is controlled by General Farma Invest (held by Cyprus-based special purpose vehicle Degribo Consultans Limited, and by company head Catia Radulescu).
There are several office and retail projects under construction in the University Square area. One of the investors is Elmec Romania, which changed its name to FF (Folli Follie) Group Romania early 2014. The company’s biggest project is to reconstruct and turn its building in downtown Bucharest into a retail and office center. The project is due for completion early 2015 and will engulf around EUR5 million. Close to this building, Wellkept Imobiliare is developing an office building whose ground floor will host retail spaces.