The owner of the developer, Romanian businessman Sorin Preda, says the investment should amount to about EUR200 million. The plot Global Vision bought had been previously earmarked for the development of a steel mill in 2008 by Austria’s Voestalpine.
“The plan is to develop 70,000-80,000 square meters a year and in six years have 550,000 to 600,000 square meters of mixed used space. We can start the project on our own or with a partner,” the entrepreneur and CEO of the developer said.
“The most active investor is looking at the project and analyzing it. There are also two private equity firms Global Vision works with abroad seeking to enter Romania and considering only major developments.”
Globalworth is said to be looking into the project of Global Vision. Globalworth is also working with Sorin Preda’s company on the development of the Timisoara Airport Park industrial park.
“The estimated surface area for this park is 550,000 to 600,000 square meters and the investment will amount to more than EUR200 million – for this project alone. The value of the land with a business plan is about EUR20 million. We plan to devise a way to develop the entire 300-hectare lot. It’s an agricultural area and the land is used farming,” Sorin Preda said.
The zoning plan was already in the works and should be done in September, he added.
“We will have a mixed-use project – retail at the front, offices, support, small, medium and large storage spaces and industrial manufacturing area. We have also started development of the infrastructure in the area.”
The developer will build an intermodal node on the land bought, connected to the A2 Bucharest-Constanta and A4 Constanta Beltway highways, DN39 (national road 39 Constanta – Vama Veche), a heliport, Constanta Harbor and railroad. There will be 800 meters of railroad on the site, with a loading and unloading platform, which will allow access to docks and terminals in the harbor, the entrepreneur added.
Constanta does not have logistics centers to allow it to develop its harbor and transportation companies decide to avoid to partly because transportation there comes with additional costs, Sorin Preda said.
(English version by Loredana Fratila-Cristescu)