The compound will be built on 60 hectares of land, and the first stage will include the construction of 150 houses, 40 this year and 80 next year, with funds from several private investors.
The value of the first 150 villas is approximately EUR12 million. The price for a 3-room villa will start from EUR65,000.
“The zone is turning into Bucharest’s Beverly Hills’” Cinca stated.
Cinca also built residential compounds Flamingo Garden 1 and 2 in Corbeanca, totaling 30 villas.
Cinca is the founder of electronics retailer Flamingo, which was the first big private company floated on Bucharest Stock Exchange. The retailer went insolvent in 2009.