The total investment exceeds EUR 108 million.
The first phase, scheduled for completion by the end of next summer, has a total value of EUR 7.3 million, with an important amount obtained from international banks.
The construction site is situated in the centre of Arad city, where Tagor and Patrol Capital own more than 70,000 sq m land, the plans including the construction of 1,232 apartments and a commercial centre with a total area 5,400 sq m.
The first phase of the project includes a residential building with 107 apartments and approx. 1,228 sq m commercial premises.
The target of the project is represented by the middle class, according to Ofer Lieberson, the owner of Tagor.
Tagor is the developer of the residential complex Adora Urban Village in the south-western Bucharest, the first in a series of projects that will bring to Romania investments up to EUR 250 million.
The company is owned and controlled by Ofer Lieberson, who started his activity in Romania in 2004. Tagor is the operational partner in Romania of Patron Capital, a British real estate fund with assets of more than 5 billion dollars. (source: dailybusiness.ro)