The first project in Cluj-Napoca, a mixed development worth some EUR 85 million, will be developed by the investment fund in partnership with Atrium Centers on the premises of the former Somesul factory. The project, to be called Atrium Center Cluj, will include a four-star hotel, a 10,000-sqm business center as well as 32,000 sqm of commercial space.
Atrium Centers is a firm set up to develop and run the project. Work will start in October, with 2009 the deadline for completion. The investment fund has recently finalized the purchase of the former Somesul factory, on an 18-hectare plot. It did not disclose the transaction value.
The second project, to be developed in Arad, is worth some EUR 50 million and will include a 30,000-sqm commercial center. The plot has already been purchased and works should start in August, ending in 2008.
Baia Mare and Satu Mare are also targets for Dawnay Day. The fund acquired MacroMall in Brasov last year, for some EUR 19 million, as its market entry.