The EUR12.77 milion transaction was conducted via CityLife Development, fully owned by Cordia Romania Holding. The seller was Bog’Art Place, part of the Bog’Art Group, one of the largest and most experienced builders in Romania.
There is already a building permit issued for the plot and the price per square meter stood at about EUR1,560.
The acquisition is a change of strategy for Cordia, which used to buy plots without a zoning permit approved and then had to deal with hurdles in securing the necessary permits.
Centropolitan will be developed on an 8,179 square meter plot in Vitan area, about 750 meters from Piata Alba Iulia and 1.5 kilometers away from the city center.
(English version by Loredana Fratila-Cristescu)