The Spanish developer Gran Via, which owns three former factory complexes in Bucharest, has decided to sell 6.5 ha of development land it bought in the city of Constanta. It blamed the financial and more specifically the lack of financing for its troubles.
Located adjacent to Maritimo Shopping Center and the Metro TOM commercial center, the project was divided into two phases. The first phase would have seen the construction of around 1,000 apartments in high rises of up to 20 floors, while a larger, second phase of 1,900 units would have been built in the second phase.
The three former industrial complexes Gran Via owns in Bucharest are the Electrotehnica, Frigocom and Tricodava sites, but no project has been developed on them yet.
