The Romanian seaside will have in about 2 years a new tourist resort near the village of 23 August, between the resorts of Costinesti and Olimp - about half way between the country's two main ports, Constanta and Mangalia. The project is funded by an Austrian investment fund that will allocate about 200 million euro for the construction works on the Black Sea seaside.

Terra, the name of the new resort will be about 10 acres long and will host two ten-store hotels and dozens of villas, green areas for children and entertainment spots.

The project’s architect says that the resort will offer all-inclusive deals mainly.

The construction site will be open in about one year and the investors plan to finish it in one year’s time.