500m euros investments in new districts in Cluj

The new housing complexes of Cluj-Napoca, including thousands or just several tens of apartments, make up a market of around 12,000 housing units, attracting investments of over 500m euros, as an alternative to the apartments in the old blocks of the city.
The biggest housing project in Cluj-Napoca was announced by Polus Real Estate, part of TriGranit real estate developer, is worth some 230m euros and is developed by Cluj Local Council and Polus Real Estate. It will include 5,800 housing units. Following the same model, Cluj Local Council sealed a partnership contract with Impact firm, which pledged to build over 5,500 housing units in a district located in the area called “Dealul Lomb”, with investments put at 300m euros.
Another district, to total 1,200 apartments, will be built in Calea Baciului area, in the western part of Cluj-Napoca and will involve investments of 35m euros. It will be carried out by Europort, a Cluj-based real estate management company.
Another housing project in Cluj-Napoca will be developed under the name of Errigal Residence by two foreign investors. Errigal Triumph, a Romanian-Irish joint venture, and Romagna Constructii, an Italian-held company, are set to invest 4.5m euros to build a district in Buna Ziua area.
The district will include 9 buildings, of which eight will be used for housing purposes and be finished by the end of next year. Errigal Residence will also include an office building, with a total area of 500 square metres.