The compound, called Corallis, is located in the northern part of capital Bucharest, in the Petrom City area, on Coralilor Street, overlooking Lake Grivita.
The project is close to getting the building permit and the construction is due to start in the first half of 2024. The Corallis compound is set to comprise 230 apartments.
“Consumers are interested in more space, want higher quality and are willing to invest more for a lifestyle, not for just an apartment. They embrace green solutions and are happy to contribute to change, in the process of making Bucharest a better place to live (…) Therefore, we decided to start our own real estate development projects”, said Tatár Zsolt, Real Estate Development Manager Kesz Romania.
In Hungary and Serbia, Kesz has so far developed hundreds of apartments. KESZ selected Fortim Trusted Advisors, a company specialized in consulting and real estate management, as the exclusive agent for Corallis.
In 2021, Kesz bought a plot of land of nearly 16,000 square meters in the Petrom City area, near the Casa Presei Libere (The Free Press House) in Bucharest, where it was planning to build a residential complex. At that time, the investment was estimated by the company at over EUR50 million. Kesz bought the land from Cornel Rosu, the founder of Radox which produces thermal and climate equipment.
Kesz Romania is a member of Kesz Group and was established in 2001.
Kesz Constructii Romania ended 2022, the last year for which public data are available, with a turnover of RON179 million, profit of RON5.2 million and an average number of 101 employees, as per finance ministry data.