ModaTim Investment lays foundation of fourth building in Timisoara City Business Center project

Newsroom 24/05/2011 | 15:06

ModaTim Investment, the developer of the City Business Center project, has started the construction works at the fourth building in the City Business Center project. The new A class office building will be erected in the downtown of Timisoara, close to the Square 700, next to the three other office building already functional in the project.

The City Business Development Center CBDC benefits from non-refundable EU financing worth RON 29.3 million (approximately EUR 6.9 million, the largest obtained so far by a private project in the West region. The building is expected to be delivered in June 2012, and will have a 9,500 sqm rentable area for office and service spaces. “Out of the 25 companies that CBDC will host, we estimate that 75 percent of them will be local SMEs in the IT industry, but also from other innovative areas,” said Ovidiu Sandor, CEO of ModaTim Investment.

With the start of the works at the building, a part of the brick wall fortifying the city of Timisoara was discovered. The developer decided to showcase the architectural findings so a part of the wall will be relocated and integrated in the architecture of the project.

City Business Center Timisoara is a class A office projects with five buildings having a total rentable are of 43,000 sqm. Buildings A, B and C, totaling 25,000 sqm of rentable space are currently in use, while the other two are set to be finalized in 2012 and 2013.