The EU funds account for 60% of the eligible costs of the project valued at RON26.8 million (EUR6.1 million), with the rest of the money coming from a loan from Raiffeisen Bank, while the 1,300 square-meter plot where the building will be developed being an inheritance, according to representatives of Siriului Residence, the company through which the building with a 3,200 square-meter lettable area will be developed.
In other words, investors contribute financially to this project only the costs considered non-eligible, such as consulting, design and marketing.
The investment in the construction will be secured through contracts with Raiffeisen and with the Ministry of Regional Development and Tourism and the Agency for Regional Development in Bucharest-Ilfov, the authorities in charge of these funds. (EUR1=RON4.3505)