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August 13, 2022
BUSINESSCOMPANIESECONOMYReal Estate

Vox Property Group: 4,650 square meters of office leased and an EUR 10.5 million financing

  • The most important leases closed in 2021 in Vox Technology Park office project from Timisoara were Tech Mahindra (1,400 square meters), Porr Construct, Vitesco Technologies and Vodafone
  • The company also obtained an EUR 10.5 million financing from CEC Bank, which will pe used for the completion of Vox Vertical Village residential project
  • Almost 12,500 homes were sold in Timis in 2021, up by over 50% compared to previous year, according to statistics from the National Agency for Cadastre and Real Estate Advertising

 

Vox Property Group, one of the most important real estate developers in the western part of Romania, leased in 2021 a total of 4,650 square meters of office space in Vox Technology Park, project delivered in Timisoara after an investment of EUR 30 million.

 The most important leases closed in 2021 were the extension of Tech Mahindra office space with 1,400 square meters and the leases signed by construction company Porr Construct, automotive company Vitesco Technologies and telekom operator Vodafone.

Vox Property Group also obtained an EUR 10.5 million from CEC Bank, which will be used for the completion of Vox Vertical Village luxury residential project, located in the immediate vicinity of the office building.

”Over 10,000 new homes were completed in the last two years in Timisoara and its surroundings, but less than 2% could be considered premium and luxury units.  Vox Vertical Village is the most relevant luxury residential project dur to be delivered in 2022 in Timisoara and the recently obtained financing will be used for achieving the company’s objectives. Almost 12,500 homes were sold in Timis in 2021, up over 50% compared to previous year, and for 2022 we estimate equally good results”, stated Cristian Gheran, Project Owner Vox Vertical Viilage.

Vox Vertical Village residential project will comprise 120 new homes in ten stories building, due to be delivered by the end of this year. The project also involves the developing of a ‘vertical forest’, with over 1,000 trees and other plants which will be planted both in the interior of the project and on the terraces.

 

 

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