The real estate developer plans to use the money from the new loan to refinance older loans for finalized projects such as Vox Technology Park, one of the major business hubs in Timisoara, and Rivendelle, a premium residential project.
It also seeks to finance its Vox Vertical Village residential project, currently under development.
The Vox Technology Park office compound has a total lettable area of 26,600 sqm and was completed after an investment of EUR30 million. Since the onset of the pandemic,Vox Technology Park has leased out over 8.700 sqm of offices, of which 2,825 sqm in 2021 alone.
The developer is currently working on Vox Vertical Village, a residential project in the vicinity of the office compound.