The Teknopark company plans to launch a major real estate project aimed at offering homes to about 100,000 Norwegian pensioners who are due to settle in Romania and Turkey.

The 20 billion USD project was confirmed for by one of the partners in the program, Acsur Holding, according to which the future location for Romania will be chosen between the Black Sea coast cities of Medgidia or Constanta.

The first phase of the project will be launched in the town of Cesme, according to the electronic edition of Turkish newspaper Sabah.

Husein Acsur, one of the partners, confirmed for that the project was in the phase of feasibility studies and that in Romania it will be launched either in Constanta or Medgidia, where land has already been acquired.

The project is headed by ODTU (Middle East Technical University). It eyes the construction of 20 mini-towns in the two countries as “second homes” for Norwegian pensioners. The project was ordered by the Norwegian government two years ago.