The RoNaturstein property company intends to develop in the historical center of Bucharest’s a complex project which will include a hotel, retail space, cultural spaces and a 600 sqm public square. The project will be carried out on 2,000 sqm of land that’s been abandoned for years. The buildings will vary in height from 2 to 7 floors, according to Wall Street.
RoNaturstein is controlled by the Italian construction company Montipo Trading which owns 80 percent (two individuals hold the remaining shares: Miu Grigore (15%) and Catalin Odea (5%).
Catalin Odea says construction will start once the company secures the necessary permits. The company has not revealed any information about the volume of the investment. RoNaturstein also owns in Historic Center Hotel Concordia, and posted a turnover of RON 20m in 2011.
