Speedwell plans €24 mln final phase of Paltim project in Timișoara

Speedwell Development is launching the final €24 million phase of its Paltim mixed-use urban regeneration project in Timișoara, Romania. Following the approval of a revised zoning plan and an urban planning certificate, the new phase will introduce approximately 108 apartments and 1,200 square meters of retail and service space.

Originally intended to include office space, the developer shifted the component to residential use to align with local market demand, noting that interest in residential properties remains solid while office demand has become more selective. The new residential units will range from studios to four-room apartments, featuring private terraces and underground parking for cars and bicycles.

Located on the site of a former hat factory near the Bega River, the project integrates restored industrial buildings to preserve local heritage. The final phase will also expand green spaces, pedestrian walkways, and include a second children’s playground to complement the existing central courtyard and community facilities.