Romanian investor builds 100 apartments in Cluj with EUR 5 mln

Local investor Octavian Buzoianu wants to borrow EUR 4.5 million from the state-owned lender CEC Bank to build 100 houses in Cluj-Napoca. The complex called CBC Residence represents a new stage of the Cluj Business Center (CBC) project, which the investor has been developing on the plot of the former Feleacul confectionery factory, via the company Felinvest. The developer has already completed 17,000 sqm of office space within the project. The investment in the residential complex amounts to EUR 5 million, which includes the amount paid for the plot. The building will have 100 apartments, 70 of them with two rooms. The selling prices for apartments amount to EUR 1,000 - 1,200 per sqm, according to company representatives. editor@romania-insider.com