Hungary's Xanga plans EUR 15 mln business incubator in central Romania

Xanga Group, one of the largest developers of industrial parks in Hungary, got under concession ​​4.3 hectares in the Câmpu Frumos Industrial Park, established by the Sfântu Gheorghe City Hall in central Romania, and it plans to build, in the first phase, two multifunctional halls with office spaces, for production and logistics.

The planned investment amounts to around EUR 15 million, and construction will most likely start in the fall of this year, according to Xanga Group general manager Herdon István.

"According to our business model, we have planned that in the first phase, we will build two multifunctional halls that will cover an area of ​​11,000 square meters, and the investment value is EUR 15 million. The concession area provides us with enough space to move to the second and third phases of the project to build more similar halls depending on the success of the first ones (...) We believe that we will also be able to attract multifunctional companies, and the incubator here will act as a catalyst for the development of the area," said Herdon István, quoted by Profit.ro.

The mayor of the municipality of Sfântu Gheorghe, Antal Árpád, announced that the industrial park at Câmpu Frumos has reached an occupancy rate of 66%, which is why the local authorities have started the steps to expand it, intending to increase the area from approximately 32 hectares, as it is currently, at 70 hectares.

(Photo source: Roman Motizov/Dreamstime.com)