Residential developer plans EUR 50 mln investments in Romania

1 November 2018 • Real estate

Residential developer plans EUR 50 mln investments in Romania

Cordia Romania, the residential investment division of Futureal Group, has a EUR 50 million investment plan for the next year on the local market, part of a long-term development roadmap.

“Romania will play a key role in the development of Cordia’s operations at regional level”, said Mauricio Mesa Gomez, CEO Cordia Romania and Member of the Board Cordia.

“We will focus on achieving a delivery rate of 500 apartments per year to the local market, promoting projects that are specifically tailored to accommodate the expectations of the middle class, by providing a perfect balance between location, architecture and price”.

Parcului20 is Cordia’s first residential project in Bucharest, a EUR 40 million investment that will unfold over the course of three years. The project is located on a 15.000 sqm plot and will feature 469 apartments, 579 parking spaces, bicycle parking and over 80 storage units. The first phase of the project consists of 260 units and it will begin by the end of this year, to be delivered in September 2020.

Cordia Romania is part of Hungarian Futureal Group, which has so far developed projects worth EUR 1.3 billion.

Source: Romania Insider