"We are negotiationg with a developer who wants to develop a residential project on the plot and to start construction in 12 months. Currently they are in prospection phase, studying the plot, making calculations to determinte the costs. If the project is viable, than at the end of June – beginning of July we could reach an advanced negotiation phase. We are going to implement the low-cost version, that means we want to develop residential at EUR 700/sq. m. This is our model which is also appreciated by our future partner ", has declared Diaconu for Mediafax. He mentioned that he is not yet aware of the form the partnership between Immochan and the residential developer will take but he stated that the easiest way would be selling the land. This does not exclude a partnership where Immochan will come with the land and the developer with the expertise in residential development. The company, part of the French group Auchan, has bought the 100 ha land last year, representing the main part of the former industrial platform Tractorul. For the residential project the area is 32 ha. The project in Brasov includes in the first phase the construction of a commercial centre with a rentable area of 45,000 sq. m. The commercial centre received the construction permit at the beginning of the year and will involve an EUR 55 million investment, sustained by its own funds. "We’ll start the bid in the next 2-3 weeks, and the first stone is intended for the end of June, to open the last quarter of 2014. The project iin Brasov is very interesting as we come with something new. It is obvious that in Romania there are two formats of commercial centres which are functioning: the proximity centre, a format which comes on a Romanians character, still willing to buy from their building’s ground floor shop, but at the same time on the background of infrastructure state, which does not permit to develop like in France, at 20 km out of town. The second format is the regional shopping centre, the case of Coresi Brasov, where we intend to build not only a commercial centre, but also an entertainment one. ", explained Diaconu. (sursa: wall-street.ro)