Padure says work will start no later than April and the development should be completed in 2011. Austrian company Baumschlager & Eberle and local architect All Plan Construction are behind the design, and a construction company is currently being selected. According to Padure, the money will be obtained from bank financing and partners' funds.
Padure is also developing the EUR 48 million Metropolis Residence project through Star Proiect Development in Bucharest. In April, he announced EUR 750 million worth of projects to be developed with Belgian partnership by 2012 in Bucharest, Constanta, Brasov, Cluj-Napoca and Timisoara.