Belgian real estate developer Liebrecht & wooD starts work in November on the first 94 houses in the residential project in Frumusani, near Bucharest.
“We have plans for 440 housing units but in the first stage we start work on the first 94 on November 2. We estimate delivery within the year so buyers can move in at the end of next year,” said Sorin Ioan Blaga, general manager Liebrecht&wooD.
The project is planned to have a total of 4,400 housing units and will be connected to the Bucharest-Constanta highway via a 5-kilometer road.
The first stage of the project entails an investment of EUR24 million and the development will spread over 170 hectares.
Liebrecht & wooD owns West Park Militari in Romania and is currently developing a EUR14 million outlet project southeast of Bucharest.
Liebrecht & wooD operates in Belgium, Romania, Russia and Poland.