InteRo won the definitive appeal against the Romanian Authority for Managing State Assets (AAAS) in relation to the Aversa privatization case, after the Bucharest Appeal Court ruled that the developer met all Obligations from auction held in September 2013.
The real estate developer will now take ownership of the 97,000 sqm land plot, planning to kick off construction works of the mixed-use Skylight Residence project in 2023.
The mixed-use development will include more than 35% green areas, over 2,200 apartments, 89,000 sqm offices as an IT campus and 8,540 sqm of commercial area.
The green areas will include 5 private parks with swimming pools, running tracks, reading areas, dog parks and meeting spaces. Additional, the development of a 8,000 sqm central park will connect the Bucur Obor Park and a new 3-hectare park planned when CFR land is revitalized.
InteRo will also add a primary school with a capacity of 250 children, three kindergartens (with a total of 150 capacity) and three nurseries (also 150 spots).