SPEEDWELL announced having recently obtained the building permit for the second residential building of the PALTIM mixed-use project developed in Timisoara.
After starting construction works for the first phase of PALTIM, which includes 123 apartments, SPEEDWELL has received the building permit for the second residential building of this project. This milestone marks the third successfully obtained permit, in addition to the one granted for the rehabilitation works on the historical monument villa.
As a mixed-use ensemble, besides the residential component, PALTIM will also include office and retail spaces. The process for obtaining the final permits for the office component of PALTIM, including another revitalized building, linking the project to its past heritage, is well advanced and scheduled to occur in the next few months.
The works are well underway for the first residential building of the ensemble after SPEEDWELL has signed an agreement with STRABAG for the role of General Contractor.
The second residential building of PALTIM consists of 113 apartments, from studios, to 2, 3, and 4-room apartments. Together with the units in the first building that is already in the works, the project reaches a total of 236 premium apartments.
Sales for the first building of the project have been launched in October 2021 and more than half of the available stock of apartments has been sold.
