Dawnay Day spends EUR 14.3m on land in Cluj to build a mall

The acquired land has a surface of 19,400 square meters and the project includes the construction of 40,000 square meters of commercial and recreation spaces. Some 60 million euros will be invested in the project.

Dawnay Day estimates construction works will start in March 2008 and the project should be finished in 18 months. The company estimates the value of the project after the completion will stand at 111 million euros.

The company wants to invest some 900 million euros in the Romanian real estate market, in the following years. Dawnay Day Group has a 20-year experience on the real estate market in Central and Eastern Europe.