The project is scheduled to be completed in July 2015.
The developer, Da Vinci Group Development, owned by Nicolae Uciu and Alin Mihalache, biought last year a land of nearly 1,300 square meters from a Norwegian investor that had planned a residential building.
“Construction started three weeks ago and delivery is set for July 2015. The buildings will have eight floors and a loft and will consist of 86 apartments of 34 sqm for a studio, 52 sqm for two-room apartments and 69 sqm for three-room apartments. The average price is EUR1,000/sqm,” Cristian Munteanu, senior partner Luxury Properties, which promotes the project, told MEDIAFAX.
He added 16 apartments have already been sold.
The investment in the project amounts to RON12 million (around EUR3 million), plus EUR800,000 which the developer paid for the land.
The two entrepreneurs plan to buy another plot of land in the area, of 2,400 sqm, a deal that could be finalized in the coming weeks. The developer plans to build 80 three and four-room apartments on this land.