Nervia focuses on industrial space

Adam Ambrus, the manager of Nervia group, established by the former executive management of Spanish ACE group, has revealed investment projects worth more than 10 million euros, targeting the Cluj real estate sector.

Investment plans are linked to the construction of an industrial park and a 16-storey office building, with an area of 500 square metres on each level.

Works for the construction of the industrial park will start in May and, in line with Nervia management estimates, the area will be ready for potential investors by the end of the year.

“There is a dearth of industrial space in Cluj. Unlike other cities such as Timisoara, Arad or Satu Mare, where investments in production have been attracted first, followed by investments in trade, Cluj has seen things happen the other way round,” Ambrus said, accounting for the decision to invest in an industrial park.

In his opinion, the real estate dynamics in Cluj is not quite healthy from a socio-economic point of view, primarily because the production sector is the one securing jobs and the development of an area.

“That is why the industrial space market has a huge potential,” the Nervia manager also said.

The park will have an area of 18 hectares and Nervia is still buying the necessary land.

“This is quite a difficult process because the owners are natural persons who do not have all the ownership documents, but we estimate we will complete acquisitions in mid April,” stated Ambrus.

According to Ambrus, to acquire the necessary land, the company will spend around 2.5 million euros, and another two million euros will be earmarked for infrastructure.

Nervia group is made up of two companies.

One of them deals with real estate investments and the other, Nervia Consulting, provides industrial assistance for the implementation of foreign investments.

“There are numerous investment opportunities in the area, but foreign companies frequently give up investing especially because of red tape,” Ambrus said.

The Nervia official says the company is in advanced talks with two Spanish firms that are going to open production facilities in Romania.

“We are already advising these firms, as they want to start building up production facilities in early 2007. They haven”t decided yet whether they will come to our industrial park, since they offer a smaller price for the space than the one we asked. Therefore, we may have to seek cheaper spaces for them,” Adam Ambrus specified.

According to Ambrus, the two Spanish firms, Caucho Metal Productos and Manufactura Moderna de Metales, will carry investments of over 20 million euros.

transilvania@zf.ro