Cordia Romania eyes medium-term investments worth 100 million euro for residential projects

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Cordia Romania takes further steps to strengthen the company`s presence on the local market by acquiring four land-plots located in North Bucharest, with the purpose of 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 EUR 100 million“, 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, just like Parcului20, a project located in Expoziției area, currently under development. Cordia Romania aims to develop 500 apartments annually in the coming years. By the purchase of these plots, a cumulative total area of ​​approximately eight ha, we have secured the basis for the development of our future residential projects.

The EUR 100 million investment announced by Cordia Romania in the development of the recently acquired land-plots will add to the EUR 40 million 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.

Parcului20 is among the first smart residential projects in Romania, all of its 469 apartments being equipped with integrated state-of-the-art smart home systems. Over 3,000 square meters of private garden, bicycle parking spaces, yoga garden and outdoor equipment for calisthenics are amongst the main differentiators, as the project is designed for livability and energy efficiency.

Considering the fact that the building permit is issued for both phases of Parcului20, the time schedule on the construction site is designed so that the garden will be planted and ready for use immediately after the completion of the first phase. The second residential building, composed of 209 apartments, will be built without affecting the access to the facilities of the condominium.

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