Scala Development secures €23m loan for residential project

Libra Internet Bank is providing RON 119 mln (€23.4 mln) in financing to Scala Development for their large residential real estate project, Scala Sopor, in Cluj-Napoca.

Scala Sopor

This marks the third project Libra has supported for Scala Development since their partnership began in 2017.
Libra Internet Bank offers tailored financial solutions, including specialized loans and expert consultation, to real estate developers. They also provide tools to facilitate home sales, such as flexible lending options for individual buyers.
The Scala Sopor complex will feature 376 apartments, 4,100 m² of commercial space, 460 underground parking spaces, and 2,500 m² of green areas. It is being built to meet nZEB energy efficiency standards.
Cristina Mahika-Voiconi, general manager of Libra Internet Bank, said: “The Scala Sopor project illustrates exactly the type of real estate initiative we want to support: well-anchored in an area with remarkable urban potential, with high construction standards and a clear vision on the quality of living. The collaboration with Scala Development comes naturally, in line with our strategy to finance projects relevant for the future of the major cities in Romania. Our expertise in Real Estate allows us to confidently support such solid developments, with a positive impact for the community.”
Dan Pitic, general manager of Scala Development, added: “Over the years, each Scala Development investment has been guided by a clear principle: to raise the standards in real estate, creating real and sustainable value. A real estate developer is a main actor in the urbanization process, and at Scala we have always taken this role seriously, a fact confirmed both by our clients and proven by the good collaboration with Libra Internet Bank in the other projects in our portfolio.”
Part of the Ax Perpetuum group, Scala Development has become a key player in Cluj-Napoca's real estate market. Their portfolio includes two completed residential projects totalling 310 apartments, three ongoing developments, a shopping center, an industrial hall, and several other projects in their initial phases.