Gran Via sold land on which 110 apartments were planned

The Spanish developer Gran Via sold the land it had prepared for a new construction phase of the Aviației Apartments complex to the Verita 4 All foundation of businessman Richard Joannides, which will build instead a new campus for Verita International School.

Gran Via is the first large-scale real estate investor to announce that it is withdrawing from the Romanian real estate market, after 15 years of activity, with the argument that the actions of Mayor Nicușor Dan are blocking their expansion.

Gran Via had bought in 2018 the lot of almost 5,000 sqm behind the Aviației Apartments project already delivered, on which it intended to build a new phase of the project, with about 110 apartments. The Spanish initiated a Detailed Urban Plan for this land, but this plan was blocked by the City Hall of Sector 1, which is why they decided to sell the land.

“Our PUD has stopped. After numerous discussions with the District 1 City Hall, we decided to sell the land. I signed the papers recently. Now a school is being built," said Antoanela Comșa, general director of Granvia Romania.

Source: Profit.ro