Romanian businessman Stefan Cherciu, the owner of local windows producer QFort, is investing EUR 35 million in a new real estate project in Craiova, located close to the Ford automobile factory, Ziarul Financiar reported.
His project, the largest of this type in Craiova, will be developed over the next five to six years.
“We have started work on QFort Residence, our largest project, both in terms of surface and number of housing units,” announced Stefan Cherciu.
He said the project is a mixed-use one, with broad green areas that would occupy over 50% of the land’s surface.
The project will include commercial spaces, polyclinic, fitness club, supermarket, restaurant, confectionery, bakery, and an indoor market.
The project will have a total of 500 apartments and will cover an area of over 45,000 square meters of land. This is not the first residential project developed by Ştefan Cherciu.
The businessman owns Casa Noastra, the company that produces the windows brand QFort. The company’s revenues increased by 11% to RON 340 million (EUR 72 mln) last year.