Urbano Group has secured a financing of over €16 million from BT for the development of Urbano Shopping & Living, a new commercial project located in the Cluj metropolitan area with a total planned investment of over €100 million.
The commercial park will span 25 hectares and will host a variety of retail and entertainment attractions, along with cafes, restaurants, office spaces, and event halls.
Cosmin Călin, Senior Executive Director for Large Companies, Structured Finance, and Factoring at BT, said: "In addition to its immediate impact on the community, such a project has the potential to develop a true ecosystem around it, thus becoming a point of interest for related real estate developments in later stages."
Alexandru Șerban, Co-Founder of Urbano Group, added: "Through this investment in the new commercial park, we aim to generate a significant impact for the residents in the west of the Cluj Metropolitan Area."
The project will contribute to local economic development, generating over 500 new jobs during construction and afterwards.
Furthermore, the integrated eco-friendly solutions include over 5 hectares of green spaces, efficient energy management, the use of renewable energy sources, and charging stations for bicycles and electric cars.
