Romanian investor starts mixed real estate project in Timisoara

Romanian investor Ovidiu Sandor has started the construction of the multifunctional real estate project Isho in the center of Timisoara. The project will include office buildings and several residential units, with the complementary services included, reports local Wall-street.ro. The office project will be developed in three stages, with the first one due to kick off in the first part of 2017. It will have seven floors, and its first stage involves the development of a surface of 16,000 sqm. In the next two stages, another 34,000 sqm of office space will be added, Sandor explained. The residential components will comprise 1,200 apartments and should be finalized by 2021. Isho will also include a conference center and a co-working hub as well as 2,000 parking places, a fitness center, a 7,500-sqm park, and a playground. Ovidiu Sandor is one of the biggest local real estate investors. He owns Mulberry Development, the company that will develop the Isho project, which will be built on the plot of 5.3 hectares located between the Take Ionescu boulevard and the Bega river shore in Timisoara. The project’s total value is estimated at EUR 130 million. Sandor has also developed the City Business Centre, Timisoara and The Office, Cluj-Napoca office projects. editor@romania-insider.com