Real estate developer ARQA sold 50 percent of ARQA Jolie Village project in Bucharest

Real estate developer ARQA has sold half of the entire ARQA Jolie Village residential complex in Bucharest, in less than a year since construction began.

ARQA Jolie Village is a premium residential complex in the Iancu Nicolae area, which offers 158 units. The total investment in the project is over 22 million euros, and for 12 million euros, the company obtained financing through Libra Bank.

“The project has also captured the attention of investors up to this development phase, and at the moment the change is being made towards end customers, who, in general, have a lower appetite for risk than investors. Thus, the present discussions are in a proportion of over 90% with end customers, and this is also evident from the types of apartments requested, such as penthouses, or large apartments with their own garden and, mostly, apartments with a higher value of 500,000”, said Alexandru Rădulescu, Chief Sales Officer, ARQA.

The delivery date of the project, developed in one stage, is the end of the first semester of this year.

“We expect that the year 2024 will ensure a constant evolution from the sales perspective, as we had in the previous year. The beginning of the year exceeded our expectations, with a higher number of requests than in the last quarter of last year. According to the market analyses that we constantly carry out, we estimate that in the next 6 months we will complete the sale of the units from the ARQA Jolie Village project”, explains Alexandru Rădulescu.

In 2023, from launch to the end of the year, the developer sold units worth more than 15 million euros.