Tagor, the innovative real estate developer which introduced in Romania the New York-based 'mini-room' concept, is expanding the revolutionary concept of 'Urban Village' to Arad.
The developer, which started this spring the construction of the new residential project in Arad, will complete the foundation by the end of this autumn, as scheduled.
The investment in this first phase, scheduled to be completed by the end of next summer, is approximately €7.3 million, of which an important part is obtained from an international bank, based on the good reputation of Tagor and the financial solidness of its partner in Romania, Patron Capital, a multi-billion dollar UK real estate fund, with assets of over US $5 billion. The total value of the Arad project will be, at completion, of over €108 million.
“We bring a new concept to people of Arad interested in living in high class conditions at an affordable cost. We target middle class of Arad, working people with great respect for money and very demanding in terms of quality of construction. We bring Urban Village concept to Arad, a glimpse of freshness in the city”, Ofer Lieberson, owner of Tagor, said.
The construction site is situated in the central area of Arad, where Tagor and Patron Capital own a land lot of more than 70,000 m², with the aim of building a number of 1,323 apartments and commercial center of over 5,400 m². The first phase of the project includes building a block with 107 apartments and approximately 1,228 square meters of commercial spaces.
Source: V+O Communication