The project will redevelop an area of 53,000 sqm into a complex featuring over 500 residential units, complemented by green spaces, pedestrian walkways, commercial areas, and community facilities.
The total investment for the entire project amounts to €75 million, with the initial phase of the Hubix-Novarion partnership exceeding €35 million. Hubix will hold a 50% stake, taking on a crucial role in defining the strategy and ensuring investment governance.
"Our partnership primarily validates the project's progression to maturity and the solidity of the development team," said Raul Țărnaru, CEO of Novarion.
The transaction highlights the potential of the Sibiu real estate market, a city experiencing accelerated development.
Major infrastructure projects – which will more efficiently connect Sibiu with Bucharest and Brașov – support the region's economic and urban appeal, consolidating the premises for increasing residential demand.
