Feleacul relocating to Zalau or Turda due to high land prices in Jucu

The factory’s shareholders abandoned the possible relocation to Jucu, near Cluj-Napoca, following a recent rise in land prices as a result of mobile phone producer Nokia’s relocation of its German factory, and the announcement by auto maker Mercedes-Benz, which intends to open a unit in this same town.

“The factory will be relocated to a piece of land which already has constructed production areas, because we do not have time to build these and want to rush the relocation,” according to a statement for Business Standard by Calin Buzoianu, who manages the Feleacul factory and is also the company’s sole administrator. He added that the necessary documents were submitted yesterday for building permits. The first portion of the Feleacul platform has already been demolished, and work will begin on the first phase of the 630 apartment real project known as Resident Parc, and due to be completed in two years.

“The investment budget necessary for the construction of the project increased from €30 million to €40 million, due to the evolution of the Cluj real estate market,” said Buzoianu. Funding will come in a proportion of 70 percent from bank loans and 30 percent from own funds.

Resident Parc will cover some two hectares and will have a total constructed surface of over 72,000 square meters, with the homes occupying 39,000 sqm.