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SPEEDWELL starts the construction of the second residential building of the PALTIM mixed-use project in Timisoara after finishing works for the first building

SPEEDWELL, one of the most active real estate developers in Romania, announces the start of construction works for the second residential building of the mixed-use urban regeneration project, PALTIM. Currently, more than 40% of the units in this building have already been sold.

In a privileged location on  the Bega River banks and in proximity to the city’s attractions, PALTIM will deliver a total of 236 premium apartments comprised in two buildings with a distinctive design, as well as an office building and retail spaces. In addition, the project also includes the refurbishment of two historic buildings that enhance and celebrate the area’s architectural heritage.

Located on Anton Seiller Street, the second building of the PALTIM mixed-use project will consist of a total of 113 residential units and will feature a special architecture with upper floors arranged in steps, hence diversifying the housing offer. The two, three and four-bedroom studios and apartments provide efficient partitioning, 2.70m height, floor-to-ceiling windows and, premium finishes, and underfloor heating.

“We are thrilled to have a well-established presence on the real estate market in one of Romania’s most beautiful and modern cities. Each project that we develop actively contributes to shaping urban communities and evolving neighborhoods. In addition to the wide range of benefits it offers – such as a unique location, right on the banks of the Bega River, being part of a community, state-of-the-art design, materials and high-quality construction standards – PALTIM is clearly different from conventional options on the market, dedicated to those who want to invest in a high degree of comfort, as well as in the peace and security of tomorrow. We are pleased to start the construction of Phase 2. More than 40% of the units in this building have already found their owners. This percentage is a clear confirmation of the interest and trust that people are showing towards the project.”, says Didier Balcaen, CEO and Co-Founder SPEEDWELL

Construction for the first building of the project, which will deliver a total of 123 residential units, has recently been completed. Nearly 70% of the apartments in this initial building, offering a variety of layouts from studios to two, three, and four-bedroom apartments, have already been sold. The apartments delivery is estimated to start towards the end of this spring.

PALTIM offers prospective residents the opportunity to choose their desired apartment from a variety of options, according to their needs and lifestyle.

All projects developed by SPEEDWELL, PALTIM included, follow the same recipe to create a work-life balance by bringing all the facilities one needs on a day-to-day basis in the same place. As a result, PALTIM will comprise of services, convenience store, café and restaurant, as well as green spaces and pedestrian alleys for recreational activities.

SPEEDWELL contributes to the progress of the local community both through innovative and sustainable projects and by preserving the historical and cultural heritage offered by the sites. For PALTIM, the renovation of two abandoned buildings – an old monument villa and a section of the former factory – represents the developer’s commitment to preserving and revitalizing local cultural landscape. The company continues to invest in Timisoara through projects that change the face of parts of the city and contribute to the evolution of the local community.

Similarly to most SPEEDWELL projects, PALTIM is built according to nZEB standards for the entire development by using high quality thermal insulation materials and renewable energy systems.

ESG Report 2023