The building will be very close to 19-floor Nusco Tower in the Aurel Vlaicu area of Bucharest.
“We estimate construction works will start by the end of the year and are already in talks with two construction companies. The building will be ready within 18 months from the start of construction works,” Nusco says.
The new project of the Nusco family will cover around 18,000 square meters, around 12,000 square meters of which will be for office spaces, with the remaining 6,000 square meters allocated for parking spaces. The overall investment in the project amounts to around EUR17 million and Michele Nusco says EUR10 million’ worth of financing has been secured from two banks, a Romanian and an Italian one, with the rest of the money being contributed by the group.
Michele Nusco says he has already started talks with prospective tenants and even companies with spaces rented in Nusco Tower are interested in expanding into the new office project. The Nusco family already owns the land for the construction of this project, which the company bought between 2001 and 2002 to set up a showroom of the door plant that the Italian family owns in Bucharest.
The area around subway station Aurel Vlaicu (northern Bucharest) has grown significantly in the past few years in terms of real estate developments and tends to become a major center for modern offices, with several companies such as Orange, Volksbank and Holcim establishing their headquarters in the area.
(English version by Daniela Stoican)