Local developer starts EUR 14 mln residential project in Timisoara

Werk Property Group, a local real estate developer controlled by Romanian entrepreneur Virgil Tornoreanu, will invest EUR 14 million in a new residential project in Timisoara, Western Romania. The project will include a 10-storey apartment building with 120 apartments. It aims to be the first “vertical village” developed on the local market as it will include a “vertical forest” made of trees and other plants. It will also have a wide atrium for community interaction, a reception, outdoor pool, cinema and a fully equipped fitness club. The project should be finalized by the end of 2019, according to the developer. “We aim to develop a project that will redefine urban lifestyle. Vox Vertical Village will combine all the benefits associated with living in a standalone house, in an area with ample green spaces, with the obvious advantages of a modern project, in a building with a high degree of comfort and safety,” said Virgil Tornoreanu, Werk Property Group CEO. The project is located near the Vox Technology Park, a 26,000-sqm office project also developed by Werk Property group, with a EUR 30 million investment. editor@romania-insider.com