Bog’Art bought a 26,000 square meter plot and Mobexpert a 43,000 square meter one, at an average price of EUR290/square meter, according to the same sources. The plans are to have a mixed-use project built on the two plots that will include 1,500 homes, a hotel and a hospital.
This would be Mobexpert’s second partnership with a builder, after its owner, Dan Sucu, developed Arcadia in Domenii area of Bucharest in partnership with Valentin Visoiu, owner of construction company Conarg.
Bog’Art’s acquisition comes after a prior acquisition for the Art City project also developed next to Petrom City.
Bog’Art started development of Art City this June, which will require a EUR20 million investment and include 141 apartments, 500 square meters of retail space, 180 parking spots, set to be delivered in October 2022.
(English version by Loredana Fratila-Cristescu)