Businessman Florin Cioacă is preparing two landmark projects for the Horeca industry and the real estate market in Vâlcea.
The real estate developer is currently in the permitting phase for a real estate complex in the Ostroveni neighborhood, on Ion Creangă Street, near Dem Rădulescu Boulevard.
The first project will be built next to the Vâlcea Maternity Hospital, on the former Petrom site, covering 1.2 hectares. It involves a hotel that Florin Cioacă announces will be five-star, with a G+10 structure.
For the hotel, there will be approximately 65,000 sqm of built area divided into rooms, studios, and apartments. A total of 500 accommodation units.
Next to the hotel, an office building will be constructed, envisioned by the developer as a corporate headquarters and business center, along with another building featuring a spa center, fitness, restaurant, etc. This project is also in the permitting phase, and Cioacă promises that work will 100% begin in 2023. The two construction sites, which will last approximately four years each, will provide 300 jobs.
The second project consists of five residential blocks comprising nine staircases, with each apartment having a dedicated parking space. This will be built both above and below ground.
Frequently Asked Questions
Where will Florin Cioacă’s new five-star hotel be located?
The hotel will be constructed on a 1.2-hectare site near the Vâlcea Maternity Hospital, on the former Petrom land in the Ostroveni neighborhood.
What are the main features of the planned real estate complex?
The complex includes a 10-story five-star hotel with 500 units, an office building for corporate use, and a dedicated center for spa, fitness, and dining.
When is the construction scheduled to begin and what is the economic impact?
Construction is slated to begin in 2023, with the projects expected to create approximately 300 jobs over a four-year development period.