Cluj County to absorb €5 bln in investments by 2010

“Companies from the US and Israel have indicated their intention to invest, especially in real estate,” according to a declaration for Business Standard by Sorin Apostu, Technical Division Manager of Cluj City Hall.

Private and state investments could turn Cluj into the second investment pole in Romania, after Bucharest.

Nokia began production in its Jucu mobile phone factory, following a €200 million investment, while General Motors could invest €500 mln in an Opel factory.

Two new malls will be built in Cluj-Napoca this year: the Atrium Centers shopping, office and apartment complexes will cover 32,000 square meters and include a four-star hotel. The Akademia Center will be built in a central area. Two malls were opened in 2007 following investments worth €350 mln.

Cora, Carrefour and Auchan hypermarkets have already opened stores in Cluj.