News Article Bucharest Hanner Group mixed-use office redevelopment residential Romania
by Property Forum | Residential

Fosta Fabrica, the restoration and conversion project of the former Grivita brewery in Bucharest, received all necessary permits and it is expected to be completed in 2020 by Lithuanian developer Hanner Group.

The project covers an area of over one hectare and includes four monuments to be restored and converted, as well as two new buildings. Fosta Fabrica is a mixed-use development that includes over 6,000 sqm of co-working and shared office space, 187 new apartments, 31 lofts, restaurants, bars, cafes, commercial and event space.
”Besides the restoration effort and the spectacular architecture of the project, Fosta Fabrica brings a new concept of partnership with the Romanian entrepreneurs invited to take part in the project. This concept implies, among other things, financial support for the Romanian entrepreneurs, who were involved since the design stage, in order to adapt to their specific needs”, said Mindaugas Valuckas, CEO and Member of the Board Hanner Group who also added that the project will remain Hanner’s property, only the new apartments and lofts will be sold.
With a portfolio of over €1 billion, Hanner Group is present in Lithuania, Latvia, Romania, Ukraine and Russia. In Romania, the company has so far invested more than €100 million in residential projects.