A new business center in Timisoara?

Ovidiu Sandor, a local businessman of Timisoara, known in Romania for the large real estate projects such as the City Business Center in Timisoara (CBC) or The Office in Cluj, plans meant to develop a new multipurpose building project similar to those already mentioned.

However, there is a slight difference between the projects in the sense that both the CBC and The Office are designed exclusively for office spaces while the ISHO complex proposed now will include, in addition to a state of the art office building, other spaces designed to house around 1,200 apartments, a hectare of parks, green spaces and terraces, premises for after-school establishments, sports and commercial facilities, and even its own pier and a vaporetto station.

This ambitious project estimated at around 130 million € will be made up of several distinct parts, but all the buildings will be designed in order to fit into a unique ensemble, thus giving the whole complex a unique identity. All building permits for ISHO have already been approved and work on the first part of the ensemble, the one related to office spaces, will start in 2017 and will be completed in a year, while the completion date for the entire complex is 2020. Obviously, after completion, or even at this initial stage, the project seems to pose a huge potential for investors, who can already think of different variants of investment: either in the office spaces, or on the individual real estate side, or maybe in the retail or restaurants/café spaces.

The relatively central positioning of the ensemble and its openness to the Bega river may also represent a good incentive for investors, especially since ISHO is likely to attract many residents living nearby as well as Timisoara residents in general, even more because ISHO will bring to life an area which is now in ruins, as well as many other such areas which became obsolete as a result of the destabilization of the nation’s industry and the implicit degradation of communist mega structures. Moreover, the magnitude of the complex most likely will create a new business center in Timisoara, in addition to those already existing at the City Business Center and Openville (which is part of another under-construction project, already presented in a previous post).

Sources:

http://www.wall-street.ro/articol/Real-Estate/205031/ovidiu-sandor-demareaza-constructia-unui-nou-proiect-imobiliar-in-timisoara-cum-arata-isho-offices-pariul-de-130-mil-euro-al-ant.html

http://www.businesscover.ro/ovidiu-sandor-si-pariul-sau-imobiliar-de-130-de-milioane-de-euro-numit-isho/