The Edenia Titan compound includes six apartment buildings, of which two buildings with 226 apartments were finished in 2009 and were entirely sold. Another 126 apartments with one, two or three rooms will be built within the second stage of the project, between October 2012 and the fall of 2013, the developer said in a statement Monday.
The Evocasa Optima compound comprises 83 apartments finished in 2010, of which 82% were sold. Another 84 apartments with two and three rooms will be built within the second stage of the project.
Adama has five finished real estate projects in Bucharest’s Titan area, which are 80% sold.
Adama, which operates in Romania, Moldova, Ukraine and Turkey, has so far built over 1,500 apartments and tens of thousands of square meters of retail spaces and office buildings within several real estate projects developed in Bucharest, Ploiesti, Bacau, Brasov, Iasi and Cluj. The number of units sold by Adama rises to over 1,000.
Austrian group Immofinanz, one of the most active realty investors in Romania, became sole shareholder of Adama in November 2011, after buying out the other shareholders for a total EUR42.43 million. Immofinanz has a portfolio of 88 properties estimated at over EUR1 billion, which mainly comprises retail spaces and office buildings.