SPEEDWELL will soon finalise construction works for the first residential building of the PALTIM mixed-use project in Timișoara

SPEEDWELL, one of the most active real estate developers in Romania, announces the completion of construction works for the first 123 apartments in the mixed-use urban regeneration project, PALTIM. The delivery is scheduled for the first quarter of 2024.

Located in a privileged area nearby the Bega River, PALTIM will deliver a total of 236 premium apartments with a distinctive design, along office and commercial spaces. Additionally, the PALTIM project will bring about the restoration of two historic buildings that capitalize on the area’s architectural heritage.

The first phase of the project, close to be finalised, will deliver a total of 123 residential units, ranging from studios to two, three, and four-room apartments in a building with a height regime of P+7. At the moment, almost 60% of the units have already been sold. The second phase of the project will add 113 more residential units.

“PALTIM is more than a project, it is a significant commitment to the development of Timisoara. We will continue to contribute to the growth of the city and the local community both through innovative and sustainable projects and by preserving the historical and cultural heritage offered by the locations. In PALTIM’s case, the refurbishment of the two derelict buildings – an old monumental villa and a section of the former factory – is our promise to preserving and bringing new life to the local heritage. With attention to detail and respect for architectural authenticity, we are bringing these historic masterpieces back to life. We are converting them into unique contemporary spaces and successfully integrating them into the landscape of the area.“, says Didier Balcaen, CEO and Co-Founder of SPEEDWELL

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SPEEDWELL starts the construction of the second residential building of the PALTIM mixed-use project in Timisoara

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In addition to the high quality of the development and the provided facilities – such as retail spaces, convenience stores, a coffee shop and a restaurant – PALTIM presents its future residents the opportunity to choose their desired home from the available stock units. This not only grants future home owners quick access to residential properties with a wide variety of features but also allows them to select the perfect apartment for their needs and lifestyle in a highly competitive market.

“We want to reiterate our promise to develop landmark projects that add value to the communities and cities in which it operates. We are truly honoured to deliver our promise and such remarkable properties, like PALTIM, that valorizes the past and contribute to a better pre send and future of this city. PALTIM distinguishes itself from the conventional options in the market. Our unique concept is designed for those that want more than just a home and wish to prioritize today’s peace of mind and security of tomorrow. Furthermore, the quality of the materials, the value of the project over time, the comfort and the privacy are elements that define the essence of PALTIM. In every detail, we have focused on the highest standards, guaranteeing our community an exceptional living experience with long-term benefits.”, says Jan Demeyere, SPEEDWELL Architect and Co-Founder.

With a strong portfolio on the real estate market in one of Romania’s most beautiful and modern cities, SPEEDWELL has already established a tradition of developing strong communities. In this direction, the company continues to invest in Timișoara through projects that reshape the face of areas and contribute to the evolution of the local community. An illustrative example is the acquisition of the land of the former textile factory, 1 IUNIE S.A.

Similar to PALTIM, the future project will provide added value to residents and will carry forward the cultural heritage and industrial history of the site. Moreover, the “1 IUNIE” project, was awarded “Best Land Transaction of The Year” at the CIJ (Construction & Investment Journal) Award Gala Romania, reaffirms the developer’s commitment to reconversion and urban regeneration of brownfield sites. After PALTIM, this is the second investment made by SPEEDWELL in Timisoara, an important regional city, where the company aims to invest in the long term.