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TriGranit Plans $1B-Plus Scheme

BUCHAREST-TriGranit, part funded with American capital, will undertake the biggest project here since the fall of communism.

By Anita Howarth | Updated on June 05, 2006

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BUCHAREST- TriGranit Development Corp, plans to develop a euro 1-billion ($1.3-billion) mixed-use scheme in the city center. The 800,000-sm project is said to be the largest in the country since the fall of communism.

The aim is to build a pedestrian area in Downtown Bucharest, with several shopping malls, office buildings, hotels and homes. The development, known as Esplanada, is due to start next year, with the first development stage expected to be finalized in seven to 10 years. The project’s first stage comprises the construction of the office buildings, retail spaces and a commercial center, with residential and green spaces to follow.

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