Property in Brief
PROPERTY: BUCHAREST
STEFANESTI
Terra Vision is investing
around 20 million Euro in a residential
complex, situated in north Bucharest
over 25,000 sqm. ‘Ansamblul Stefanesti’
will have four blocks of flats
with five floors and a penthouse of
5,500 sqm in each, a nine-floor building
with 50 apartments, a mini-mall
and bank. The total number of apartments
is 370, with surfaces between
45 and 220 sqm.
BUCHAREST-PITESTI MOTORWAY
Portland Trust, office developer of the
Opera Center and Bucharest Business
Park, has started building an industrial
project in west Bucharest, at a likely
value of 300 million Euro, officials said.
On around 100 hectares of land at the
exit from the highway at km 14, the
firm has started infrastructure works,
Robert Neale, managing director of
Portland Trust, told Ziarul Financiar.
BERCENI
Victoria Holding will invest
about 20 million Euro to build a 12-storey
car park in southern Bucharest located
close to City Mall and stretching
over 38,000 square metres.
BUCHAREST-PITESTI MOTORWAY
Phoenix Real Estates has sold the
industrial project, Mercury Logistics
Park, to Helios Properties, a UK-based
property development and investment
company, announced Eurisko.
BERCENI
German investors have
started to build a seven-floor office
centre office block in south Bucharest’s
Metalurgiei Blvd, due for completion
this June, following an investment
of four million Euro. Real estate firm
Eurisko said Bavaria Office Center will
stretch over 5,600 square meters with
170 parking places.
CRANGASI
A two million Euro shopping
gallery will open in west Bucharest’s
Crangasi district, scheduled for
this month, Regatta announced. Grant
Shopping Center will stretch over
5,500 sqm.
IANCU NICOLAE
A new residential
project is now on the market, covering
almost 7,500 square metres in the
Iancu Nicolae area, announced Regatta. ‘Amfiteatru’ comprises 30 luxury
apartments lodged by three buildings
designed as three stories buildings.
PROPERTY: ROMANIA AT LARGE
BRASOV BARTOLOMEU NORD
Works are to start on a reported 13 million
Euro project to build a new housing
district in Brasov, an endeavour by German-
based Maurer & Kasper. Dubbed
Avantgarde, the future district stretches
on a 35,000 sqm area and comprises
17 villa-like blocks of flats, with a total
of 275 apartments. Officials said the
apartments range from one-bedroom
to three bedroom units, with prices
ranging from 60,000 to 93,000 Euro.
GALATI
Moldova’s Danube port city
will see its first Class A offices, available
from the end of November 2007.
This will be situated over a 4,000 sqm
surface on the fourth floor of Union
Investitii’s 50,000 sqm Euromall on Str.
Ana Ipatescu. 24,000 sqm shopping
space in the mall is rentable.
GHIMBAV
Real estate firm Chrytis will
build a 20 million Euro residential complex
on an areas of seven hectares in
Ghimbav, Brasov county. The construction
of around 120 houses will start in
May and end in 2009 or 2010. In 2004
the company started a 32 villa residential
complex on a 16,500 sqm site, 95
per cent of this site is complete.
BRASOV
Ravensdale Investments
will this month begin investments in a
new project, dubbed Brasov Business
Park. The project is promoted by Zoltim
Trading real estate agency and will
comprise four class A office buildings,
stretching over almost 35,000 square
metres. A retail area covering 5,000
sqm and a new four star hotel are also
in the plan, officials said.
CLUJ-NAPOCA
Olimpia BC will be officially
opened this month, bringing a
new addition to the class A office buildings
market in Cluj-Napoca. The eightstorey
business centre covers a net
total area of 5,770 sqm with a usable
surface per floor covering 500 sqm.
CONSTANTA
Israeli-based Poalim
Real Estate, a private equity fund held
by Poalim Capital Markets Investment
Bank, has begun construction on a
new 55,000 sqm mall in Constanta.
Adjacent to Lake Siutghiol over 25,000
sqm of commercial space, the deal is
valued at 40 million Euro and is scheduled
for completion in May 2007.