Tractorul Brasov plant replaced by a mall

The owners of Flavus Investitii, which bought the land and assets of the former Tractorul plant in Brasov, are planning to start construction works on a mall, office space and apartments in the first half of next year, as part of the first stage in a project that will entail overall investments worth 1-1.5 billion euros. The company is in talks with several mall developers with a view to developing the mall in a joint venture. “The mall will take up about 100,000 square metres and require an 150 million-euro investment. The figures are just estimates for the time being, because the master plan will be completed within a month. We intend to hold a majority stake in the joint venture,” said Silviu Savin, one of the company’s managers and shareholders. Flavus took over the 121-hectare plot and the assets of Tractorul for 77 million euros last year. The overall project will also include almost 8,000 apartments, office spaces covering over 100,000 square metres and a 4-star hotel with 200-250 rooms, for the development of which the company is also in talks with several hotel operators.