Trigranit suspends local activity for three years

Trigranit Development Romania, which was supposed to develop the Esplanada project in Bucharest, has announced it is suspending its activity for three years. The Esplanada project was evaluated at EUR 1 billion. Half of the land where the project was due to be built is being claimed by former owners.

This has led to a four-year delay in the start of the project, initially scheduled to begin in 2007. The investment was supposed to include office buildings, retail space, hotels, and residential and cultural spaces.