The position-finishes-price ratio has enabled the developer to pre-sale all the apartments in phases 1 and 2 of the real estate project and to collect advance payments of more than €10 million during the construction phase.
"Thanks to its location in a unique area delivered at an affordable price, right next to the Fundeni Lake, the SunLake Residence complex has managed to maintain a steady sales pace even during the current period of increased interest rates on mortgage loans. We have been surprised by the very high demand for two and three-bedroom apartments and the very strong desire of Bucharest's residents to upgrade from communist era apartments to apartments in new developments. At the moment, SunLake Residence is undoubtedly the best alternative for the residents in the area, not only in terms of the finishes offered, but also due to the common facilities in the complex," Alexandru Mănăilă, shareholder and managing partner of SunLake Residence stated.
SunLake Residence consists of two 12-storey buildings and one 18-storey building with a total of 308 apartments, over 350 parking spaces, a private park and lakeside promenade. The market value of the residential complex exceeds 40 million euro and covers an area of over 40,000 square meters.
“Building A is now fully completed and building B is 95% finalized. We are currently working on the last finishings in building B, the exterior landscaping, the installation of photovoltaic and solar panels at the fire safety components in the compound. We were extremely surprised by the sale of all apartments in the first two 12-storey buildings (building A and B) and will now focus our attention on the sale of the duplex penthouses in block B and later on selling the apartments in building C,” Alexandru Mănăilă added.
The carefully designed architecture of SunLake Residence and its strategic location on a peninsula on the shores of Lake Fundeni make SunLake Residence the first complex in District 2 of the Capital where regardless of cardinal orientation, almost all apartments have a view of the surrounding lakes.
“SunLake has been developed with the help of a team of dozens of architects, designers and specialists who have carefully thought through every aspect of the residential complex. From the strategic view to the surrounding lakes, to the efficient subdivision of the apartments, the renewable energy sources placed on each building (photovoltaic panels and hot water panels), the private park and the lakeside promenade that will connect to the green promenade to be realized in the future by the authorities, all make SunLake one of the most attractive real estate projects in Bucharest,” Bogdan Guțu, Sales Director of SunLake Residence, explains.
In addition, due to the developer's very good reputation, customers have preferred to buy the apartments with their own resources and pay for them in full in advance, with mortgage buyers being less common during the construction period.
Park Properties Group is targeting developments of over 1,000 residential units in the next few years and accessing new sources of capital to grow the business. The Group has acquired several large-scale lakeside sites in Pipera, Balotești and other exclusive locations where it plans to continue to develop premium apartment and villa complexes targeting the luxury and affordable luxury segment of the market.
With a total area, upon completion, of over 40,000 square meters and a market value in excess of €40 million, SunLake Residence, located on the shores of Fundeni Lake, in District 2, is one of the most ambitious residential projects in Bucharest, an architectural landmark, with generous terraces and spacious lobbies, surrounded by lakes, a green, quiet area with numerous leisure spaces - parks and playgrounds for children. Construction of the project started in March 2022.
Park Properties developer has realized 10 blocks located in central and ultra central areas of Bucharest so far, which have been sold out. The majority of the buildings developed by Park Properties have been more than 80% sold before completion, due to an increased interest from buyers.
SunLake Residence is the most ambitious project of the Park Properties investors, a residential complex whose construction started in the spring of 2022 and which, upon completion, will consist of 308 apartments of 2 and 3 rooms, as well as studios or duplex penthouses of 4 and 5 rooms, divided into three buildings, two with a height of UG+Gf+12F and one building with 2 UG+Gf+18F.
