Cordia Romania to invest 100 million euro in residential projects in North Bucharest

Cordia Romania, part of Futureal Group, acquired four land-plots in North Bucharest, representing a total of 80,000 sqm of land and will invest 100 million Euro in developing residential projects destined for medium and medium-high segments.

“The total investment in the development of the four plots, part of our long-term strategy in Romania, amounts to approximately 100 million Euro”, said Mauricio Mesa Gomez, CEO of Cordia Romania and member of Cordia Board of Directors. “These new developments will bring to the local real estate market medium and medium-high apartments, with an accent on perfect balance between location, architecture and the price of the property.”

Cordia Romania aims to develop 500 apartments annually in the coming years. The 100 million Euro investment announced by Cordia Romania in the development of the recently acquired land-plots will add to the 40 million Euro that will be invested, over the course of two to three years, in Parcului20 project.

In December 2018 Cordia Romania, Futureal Group`s residential development division, received the building permit for Parcului20 condominium, developed by the company in Expozitiei area, North Bucharest, on Parcului street. Parcului20 will be developed in two phases and will feature a total of 469 apartments. The construction of the first 260 apartments will be finished by September 2020, and the second phase will be delivered eight to 12 months later.

The 469 apartments in Parcului20 are designed for the medium and medium-high segment of the market and will be available in 30 different configurations, from studios and two-room apartments to five-room duplex apartments.