Terapia could make 20m euros from land sale

Terapia Ranbaxy, one of the leading drug producers on the local market, has decided to sell 9 hectares of land in Cluj-Napoca via a tender. The land in question has been estimated at up to 20 million euros, according to Cluj-based real estate agencies. The plot of land to be sold lies in the industrial zone of the city, in the same area as Terapia’s drug production facilities, has triple frontage and all the necessary utilities. According to representatives of Cluj-based real estate agencies, this is the biggest compact plot of land in the area. The price for the land may range from 50 to 200 euros per square metre, a figure dependent on the Town-Planning Division of the Cluj-Napoca Town Hall. “The price of the land depends on what can be built there. If the destination of the land is changed from industrial to residential, the price could reach 200 euros per square metre. If the destination remains industrial, the price may vary between 70-80 euros per square metre (…),” says Claudiu Truta, with Grup de Lux real estate agency.