The real estate company TriGranit Development Corporation, which announced that it wants to develop the Esplanada real estate project, has set up a company in Romania. The sole shareholder of TriGranit Development Romania is Cyprus-based TriGranit Holding Limited, according to data from the Official Gazette. The group''s local branch will be managed by four people, among which businessman Arpad Paszkany from Cluj-Napoca, who is involved in developing the Polus Center in Cluj. The Cluj-based mall, which Paszkany announced in 1999, was to be completed in 2006. The project was to entail investments worth 140 million euros. TriGranit Development Romania will have a share capital of 182,890 RON (some 50,000 euros), according to data from the Official Gazette. TriGranit is to sign a contract for the Esplanada real estate project, to be located in the centre of the capital, according to the latest statements by Romanian government officials. ZF
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