Esplanada, the TriGranit developed project in the capital city that will entail investment totalling over 1 billion euros, will generate rental space, both for merchants, and for offices of national and multinational companies.
Furthermore, some companies that the TriGranit real estate group has worked with abroad are interested in the Romanian market, say the representatives of the developer.
"There are banks and investment companies or consultancies close to the Rothschild financial group that are not present on the Romanian market yet, but that may arrive on the market with us.
"The size of the project and the opportunities of the Romanian market will make major foreign groups consider entering this market," said Janos Halasz, one of the TriGranit managers in Romania.
The Esplanada project will create approximately 25,000 jobs in the first phase of construction.
Moreover, Esplanada representatives want this complex to become the modern symbol of Bucharest, proof of the capital city's development.
The first buildings that will be part of the multifunctional project are likely to be delivered onto the market two years after construction work will start, with the remainder of spaces to be put onto the market in seven years at most, estimated the group's official. "In the case of the Esplanada project, the municipality stands to gain by a complex that is not only changing the appearance of the district, but is also generating a lot of jobs.
Suppliers feeding commercial centres will have their benefits as well, and the area will become even more appealing for real estate investors," Janos Halasz also specified.
Romania is highly attractive for real estate investors.
"In five years at most, Ukraine will become a major rival of Romania in attracting in real estate investors," warns the representative of TriGranit.
Financing sources for the projects TriGranit develops are largely banking loans.
"There's a large banking supply globally and getting a loan only depends on the feasibility of investors.
TriGranit enjoys a solid financial position, and this has allowed us so far to have easy access to loans from banks such as CitiBank and Deutsche Bank, because the share capital cannot be used given the high value of investments," explained Janos Halasz.
Construction work for Esplanada is scheduled to begin early next year. Esplanada is located five minutes away from the Unirii area of the capital city, near the National Library and the "Junior" store.
TriGranit was set up in 1997, and its shareholders include the British Rothschild and the Hungarian OTP financial groups.
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