British investment fund to develop new residential project in Romania

British Romanian Investment Partnership, part of the British investment fund ARDC (UK) Ltd announces the release of their second residential project developed in Romania, New Residence Bucharest complex, comprising 24,000 sqm build on a plot of 10,000 sqm.

2016-10-25 13:52:25

With an investment of 10 million Euro, New Residence Bucharest, the residential complex located in Drumul Taberei neighbourhood will comprise 216 turnkey apartments, with English style architecture and low height structure.
Currently, the project is in its first phase of construction, which will be completed in December this year and the entire project is scheduled to be delivered in the spring of 2017.

"New Residence Bucharest is a special residential project, both in terms of architecture and facilities," said Cristian Mercioniu, general manager New Residence. "As well as before, we considered the criteria underlying the choice of a home, whether it is about quality, price, accessibility and comfort."

New Residence Bucharest will have studios and apartments of two and three bedrooms and it will be built on a solid structure in line with anti-seismic norms in force. Those 45 studios will be available in five different models and will be positioned at both 1st and 2nd floors or at the attic, some of them having a special architecture with triangular form.

The 117 two-bedroom apartments of 57 to 77 sqm will be available in 13 different types with one or two balconies. New Residence project will also include five types of apartments with three rooms, figuring 54 units with 85 sqm to 95 sqm.

The residential complex will offer facilities such as secured common areas, elevators, private parks, social club, parking, 14 commercial properties, supermarket, gym, afterschool, pharmacy and playgrounds for children.

ARDC (UK) Ltd is the majority shareholder of the company Romanian British Investment Partnership SRL based in Bucharest and it is the developer of New Residence Bucharest. Through this project, ARDC (UK) Ltd achieved the second real estate investment in Bucharest, after completing the New Residence Magurele residential complex in 2015, more than 180 apartments, four commercial properties, and eight individual and duplex-type houses.