Horia Ciorcilă, one of the founders of Banca Transilvania, Romania’s biggest lender by assets and Evergent Investments are jointly planning the development of a residential project in northern Bucharest.
A detailed urban planning of the project (PUD) has been submitted to local authorities for permitting. The development is backed by Winners Resources, a Cyprus-based investment vehicle said to be controlled by Ciorcilă, and Ever Imo, which is owned by Evergent Investments, according to profit.ro.
The banker and Evergent have jointly acquired a land of 4 hectares from a subsidiary of Erste Group Immorent. Until 2015, the land was owned by Erste Group Immorent and the family of late billionaire Dinu Patriciu who were planning to develop a residential project.
The new residential development would be located in an emerging property hub where more than 4,000 apartments are in various construction stages.
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