Fribourg Development will start the developments for the first phase of the project that restates the former furniture factory – Libertatea, the financers have announced.

The first phase of the future technological park implies the reconversion of the existing buildings and the harnessing of their surroundings. This phase overcomes the harnessing of 8.772 sq m for offices, a restaurant and a coffee house. „ We just started negotiating and placing offers for selecting the general entrepreneur. We estimate that after the 15th of March working on site will start.” Nina Moldovan CEO Libertatea. „This project is not a real estate project. Our main target consists of companies in the IT&C and R&D domains. The concept includes alongside office spacing and services & facilities for these companies a business accelerator for innovative businesses. Our inspiration were similar tech parks projects in Central Europe but also the Silicon Valley” mentioned Ion Sturza, president at Fribourg Capital. In the end, after five years, the project will summ up 46.000 sq m of high quality spaces and will cost a total amount of 25 million euros, according to actual estimations. The new complex will be built after a project signed by Chapman Taylor, an architecture bureau with headquarters in Bucharest that won the concept competition launched by the developers. Liberty Technology Park Cluj is a project developed by Fribourg Development, the real estate division of Fribourg Capital. SC.Libertatea S.A.is detained by a cypriot investment fund controlled by the former prime minister of Moldova Ion Sturza, also former C.E.O. Of Rompetrol. Fribourg Development, subsidiary detained by the private Investment Fund Fribourg Capital holds 90% of all Libertatea shares.