The building has 148 flats and half of them have already been sold, according to the developer.
Phase one of the complex includes two 10-floor buildings, with one-, two-or three-room flats.
Adama was founded five years ago by businessman David Flusberg and another two Israeli businessmen. Later, the company drew in investors such as Morgan Stanley, Lehman Brothers or Immofinanz.
The Immofinanz group, one of the most active realty investors in Romania, has recently become sole shareholder of Adama after buying out the other shareholders for a total EUR42.43 million.