Nusco Italian group is negotiating with the main hotel chains to develop a new hotel in Bucharest

Nusco Italian group, activating on the local market in real estate sector and the manufacture of windows and doors, is currently negotiating with Radisson, Novotel and other hotel chains to develop a 4 star unit in Bucharest.

If the current negotiations fail, Nusco will develop an office building insted of the hotel.
The project will be located on a land of approximately 2,500 sq m, owned by the Italian group in Barbu Vacarescu area in Bucharest.

The hotel is designed to have 180 rooms. The height regime is floor plus 11 stories. The necessary investment is expected to exceed EUR 25 mil.

Further, the group could develop Nusco Building in the future, a tower building with 22-25 floors on a land of 7,000 sq m, located also in Barbu Vacarescu area which will include office spaces, residential and hotel rooms. The cost of investments would outrun EUR 50 mil., stated Michele Nusco.

The group activates on the real estate market in Bucharest with other two projects, the office spaces Nusco Tower and the dwelling project, Rezidential Luca Stroici.

Sursa: Wall-Street [17.06.2009]