Integral Invest got European non-reimbursable financing of 17.1 million lei (EUR3.8 million) to develop the project.
The total value of the project is estimated at RON42.5 million and the grant covers 40% of overall expenses.
Until 2010, the firm was directly owned by former Moldovan Energy minister Constantin Iavorski and his family.
The office tower might host the new headquarters of group Unicom, controlled by Iavorski. The project’s developers will also attract small and medium-sized enterprises.
“We started works last month and the office building, which has a lettable area of about 6,000 square meters, should be completed in July 2014,” project manager Constantin Vladulescu said.
The tower is built by construction firm Comnord, controlled by businessman Sorin Creteanu. Last month, Comnord signed two contracts worth a total of EUR5.8 million with Integral Invest to build and equip the tower.
Integral Invest is owned by Ionut Vintila (40%), Iulia Gutu (40%) and Catalin George Pisoceanu (20%) through firm Pentacon SA, according to Trade Registry data.