Spanish HL1 to start construction of two residential complexes
10 June 2009
Spanish developer HL1, represented in Romania by Area 10 Eastern World company, plans to start construction at a residential complex located on Timisoara Blvd. and Mogosoaia area in Bucharest in the fall of 2009, the company announced.
Currently, the developer runs talks in order to find the construction company for the 2 projects. The project on Timisoara blvd. consists in a tower-type office building and a residential complex. The project in Mogosoaia will spread on 21 hectares.
Area 10 Eastern World is owned by equally share packages by Area 10 New World and HL 1 and currently developes a residential complex in Delea Veche area in Bucharest, comprising 193 apartments. In 2008, the develop loaned EUR 24 million worth credit from the Romanian subsidiary of Caja de Ahorros y Pensiones de Barcelona bank. The loan has been backed up with the land of 6,000 sqm from Delea Veche.
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