First Grand Prix One Circuit To Be Built In SE Romania

The investment, that rises to EUR300 million, includes building the racing track, commercial spaces, restaurants, showrooms and a four-star hotel, that would stretch onto 56 hectares.

Snagov mayor Apostol Musat on Monday said that 97.5% of the people who attended the vote, were in favor of developing the project.

Australian company South Pacific announced its intention to build in Snagov the first Grand Prix One circuit in Romania, including a four kilometer- speedway, shopping spaces to stretch onto nearly 60,000 square meters and showrooms and several restaurants and coffee shops to be built onto 90,000 square meters.

Last week, Musat said the mayoralty would levy an authorization tax and a road toll, each worth 1% of the investment’s value, which tops EUR6 million in taxes.

The mayoralty would also levy another EUR1.45 annual tax for each leased square meter, that is a total of EUR812,000 of annual incomes to go to the village’s budget.  

Other Grand Prix One circuits apart from the one to be built in Snagov, can be found in Vienna, Rome, Milan, Barcelona and London.

The South Pacific Group company is controlled by three Australian businessmen and is currently undergoing four residential projects in the area of Tunari, somewhere near capital city Bucharest.

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