Business Forum • 20 June, 2024 at 12:45 PM
Real estate developer STC Partners obtains financing from Banca Transilvania for the development of phase II of the residential compound Quartier Azuga, located near the Tei area in Bucharest, worth €10 million.
Quartier Azuga is renowned for its commitment to sustainability, featuring Green Homes pre-certification and compliance with the nZEB standard, which commits to its residents high-quality living, with significant savings in utility costs and a reduced carbon footprint.
“Securing the Phase II development credit prior to the completion of Phase I is a strong indicator of our project's success and the capability of our development team. This continued partnership with Banca Transilvania ensures the timely completion of Quartier Azuga, we warmly thank the support of our professional partners from Banca Transilvania”, said Andrei Stefan, Partner, STC Partners.
Recently, STC Partners started the development of Phase II of Quartier Azuga, with a total investment value of over €15 million. This phase includes three buildings with 115 apartments, ranging from 2-room to 4-room apartments, as well as spacious duplex-type units set by the lake shore, with estimated completion by the end of 2025. Phase I construction works at Quartier Azuga are well underway, a few months away from handover to clients.
“Banca Transilvania continues to support high-quality green real estate projects like Quartier Azuga. Our further investment in the development of this new green residential community underscores our belief in the project's quality and its contribution to the Bucharest landscape and life quality”, Cosmin Călin, Executive Director of Large Corporate, Banca Transilvania.
STC Partners is committed to set new standards in residential living, combining modern living solutions with environmental responsibility.
STC Partners continues the success story of Quartier Gramont, the boutique residential project near the Palace of Parliament, completed in 2021, focusing today exclusively on the development of Quartier Azuga located near the Tei area of Bucharest, while planning new residential projects in the capital. The team of developers is composed of seasoned professionals and collaborates with companies with an exceptional reputation in the industry to successfully deliver projects.