The compound, Flamingo Park, will be built on 60 hectares of land, and the first stage will include the construction of 150 houses on 10 hectares of land, with funds from several US investors.
The price for a 3-room villa will start from EUR69,000.
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.