South-African investment fund New Europe Property Investments (NEPI) and the local investor Ovidiu Sandor have started the work on the third and final building within the largest office project in Cluj-Napoca, according to Romania-Insider.com
The office complex, which is called The Office, will cover over 59,000 sqm once it is finalized. The third building will have some 18,500 sqm and will be completed in the summer of 2017.
The development takes place in a favorable economic environment, as many IT companies are investing in Cluj-Napoca, reads a NEPI press release.
The first stage of the project was delivered in May 2014, following an investment of EUR 26 million. The second building was commissioned two months ago. It required an investment of EUR 18 million.