Romanian developer starts demolishing industrial site to build mixed-use project in Iasi

Romanian developer Prime Kapital has received all the necessary permits for the demolition of the Teba industrial platform in Iasi where it plans to develop a EUR 200 mln mixed-use project (Silk District).

The construction work could start this spring, after the developer gets the building permit, local Economica.netreported.

Silk District will have two main components: category A offices with an area of approximately 100,000 sqm and 2,500 apartments. The project will include retail spaces totalling 11,700 sqm, a four-star hotel with 160 rooms, a 1,500-sqm medical clinic, spaces for services, parks, leisure and relaxation areas, a kindergarten, and a swimming pool.

The company will create an underground network of 140,000 sqm for car traffic.

“Silk District is an important project for us and we have planned it so that the Silk community can grow organically, bring new opportunities, and provide a space for people to enjoy life. We want Silk District to support itself and grow sustainably, in line with the city's green goals,” said Maggie Kitshoff, chief executive officer of residential & office Prime Kapital last year.

(Photo source: Silkdistrict.ro)