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Bogdan Dimitriu, Federal Mogul
"The local industry is more competitive now in terms of both operators and labour force »
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Estic Park to invest six million Euro for another 103 apartments in the second district of Bucharest

Estic Park, the residential project from the second district of Bucharest, will build another 103 apartments with six million Euro, after selling 70 per cent of the first phase of the project in the first months of the year. The developer Israel Land Development Company (ILDC) aims to finish this second phase at the end of 2018.

2017-09-04 14:45:21

Estic Park project was designed to include around 1,500 apartments to be developed in four main stages for six years. The project development attracted investments of over 26 million Euro until now. The total value of the investment is estimated at 94 million Euro.

The first building from Estic Park is almost finished and comprises 125 apartments with two and three rooms. For the second building, there will be also included apartments with four rooms.
"Estic Park project is an alternative for those work in the northern part of Bucharest, but cannot afford an apartment in the first district," said Alina Verdeata, managing partner of Coldwell Banker Real Estate. "Given that currently the apartments from Estic Park have an average price of 1,000 Euro per sqm, and the attractiveness of the location, we expect for the sales trend to increase more in the last months of the year."

The prices for these apartments start from 44.600 Euro (two-room apartment) and can reach up to 78.600 Euro for a unit with three rooms.



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