English
The Timisoara Local Council has passed a decision whose beneficiary asked the meeting on July 31st that the Timisoara City Hall expedite the approval of a regional urban plan required for a 120 million EUR investment. Had the local administration not expedite the proceedings, a 120 million EUR real estate investment would have been put on hold, while the investor would have sued for damages.
Adnagi Slavoliub, the representative of the investor, Tomis SA - Constanta, said the 40 hectare development had been awaiting months after months to receive various permits and approvals. In turn, City Hall representative Ioan Cojocari said the urban plan had been delayed because parts of the land in question had been claimed by a different entity and that the plan had been eventually approved on condition that any potential litigation should not involve the City Hall. The development, one of the largest so far, will include hypermarkets, warehouses and offices.
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