Over 240 apartments on the old TeraPlast location
A new real estate project will be developed in Bistrita on the grounds of the old location of TeraPlast SA, the parent-company of the TeraPlast Group – the largest Romanian construction materials manufacturer – in partnership with the local real estate developer Alfa Construct Partners. Within this partnership, TeraPlast offers the land and Alfa Construct will build the properties at its own expense.
The land is located on Zefirului street in Bistrita, where TeraPlast carried its business until 2011 when the relocation to the TeraPlast Industrial Park in Saratel was completed.
“For the last 10 years since it has been unused, this asset brought no value to neither our shareholders nor the community we are part of. We are the largest Romanian group in the county so, beyond the gates of the industrial park we have the responsibility to contribute to the development of the city and the local community. Now the land will be capitalized and will revitalize a forgotten part of Bistrita through the over 240 apartments within the project. It is a pity to develop the city at 7-8km from the city center, in Viisoara and Livezile, while an area at 1km from the city center remains in ruins” stated Mr. Alexandru Stanean, CEO of TeraPlast.
The implementation of the project will be carried out for a maximum period of 6 years. The project envisages the construction in 4 stages of six apartment buildings and over 350 parking spaces. The complex includes driveways, pedestrian walkways, green spaces, and a children’s playground.
The selling of the apartments will also be done in stages, as each building will be finalized. TeraPlast will receive, by payment, a minimum of 1,2 million euros for this land, an amount that could increase by at least 30% depending on the urban planning coefficients obtained through PUZ (zonal urban plan).
In 2019, in the Bistrita-Nasaud county, 748 homes were built, and 1.271 homes were traded. Over half of them, both built and traded, took place in Bistrita city.
About TeraPlast Group
With more than 120 years of history, the TeraPlast Group is today the largest Romanian manufacturer of construction materials. The Group is comprised of: TeraPlast, TeraSteel Romania and Serbia, Wetterbest, TeraGlass, TeraPlast Recycling and TeraPlast Hungary.
Since July 2nd, 2008, the largest company in the Group – TeraPlast SA – has been listed on the Bucharest Stock Exchange, under the TRP symbol. TeraPlast passed ARIR’s Vektor evaluation, based on 15 different criteria regarding investor communications, with the highest mark, 10.
For further information you can contact us by e-mail investor.relations@teraplast.ro or phone +40 741 270 439 – contact person: Alexandra Sica.
