The new residential project will be built on the site of a former textile mill that ceased operations a number of years ago.
“We have already torn down the buildings on that site where we will build four apartment buildings with 188 apartments. We plan to start work in a month, we are now waiting for the construction permit,” says Affan Yildirim, general manager of Anchor Grup.
The buildings will be six stories tall (ground floor plus five additional levels) and will have a parking and retail area in the middle. Construction will take 15 to 16 months, which means it should be completed by the end of next year.
Anchor Grup continued to develop its retail business since 2009, having invested EUR26 million in the two malls it owns – Bucuresti Mall and Plaza Romania. It also made investments on the office segment, by building Anchor Plaza. The return to residential investment shows the home buying appetite is back, after a decline during the crisis.
Current trends on the real estate market show developers are building residential complexes near office buildings. Anchor’s new homes will be located at an almost 20-minute walk from the Timpuri Noi Square office complex developed by Vastint near Timpuri Noi subway station.
(English version by Loredana Fratila-Cristescu)