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Silver Mountain project in Poiana Brasov to further benefit of support from BCR, a member of Erste Group
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INR Management Real Estate company, developing the residential and hotel project named Silver Mountain located in Poiana Brasov resort area, is close to get financing of approximately EUR 90 mil. from Romanian Commercial Bank (BCR), in order to carry out the first phase of the project.
Anca Rusu, INR Financial Manager, stated that the company has already contracted a loan from BCR and signed a principle agreement to expand financing so that the necessary investment for the first phase of the project is mostly covered.
The first stage of the Silver Mountain project requires over EUR 100 mil. investment and includes developing a hotel under Radisson SAS brand with 188 rooms and five buildings with 300 dwellings.
The project covers an area of 26 ha and implies a total investment estimated at EUR 350 mil.
In the proximity of INR Management will be developed a golf course on a land of 44 ha, as a result of a partnership with Brasov City Hall.
A tennis school is scheduled to open within the Silver Mountain project.
Sursa: Ziarul Financiar [11.12.2008]
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