The Artemob International furniture factory in the Pantelimon neighborhood of Bucharest is to be closed, after this year Prima Development completed the purchase of the first lot of land on which the factory operates, with an area of 1.7 hectares, and signed a promise to sell- purchase for another lot of 1.9 hectares. According to the contract, Artemob International has the obligation to close its activity before the sale of the entire land to Prima Development.
The developer is going to cede to the City Hall Sector 2 about 8,300 sqm of these lands for the widening of the streets, after which it will be left with a total of 2.8 hectares.
Prima Development Group will build a complex with 964 apartments in 9 blocks, plus an afterschool with ground and first floor height. The developer estimates the value of the investment at EUR 45 million and plans to develop it in 5 stages over 6 years.
Source: Profit.ro
