Esplanada contract weeks away from signing

Newsroom 17/03/2008 | 15:59

Ghibernea expects two more years to go by before the project can be actually started however, as the Bucharest City Council still needs to approve it, an architecture contest must be organized and the legal issues of the land need to be resolved.
“It is not so much a matter of business, as it is about visibility and prestige for TriGranit,” says Ghibernea. Esplanada is set to become the biggest such project in the developer's portfolio.
There are several tough steps still to be taken, says Ghibernea. Following the recently ended negotiations, the business plan has slightly changed, although the alterations are not major, says Ghibernea. The architecture of the project will also undergo slight amendments.
The negotiations took so long to complete as TriGranit wanted to work using a contract which could not
be attacked after a change of government in Romania, Ghibernea told
Meanwhile, the developer is looking at building a EUR 180 million commercial center in Brasov and is analyzing Galati for a project, which could include retail, residential and even offices, according to the TriGranit country manager.

Corina Saceanu

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