Cityring Property explores new resi investment in Bucharest

Business Forum

10 October, 2024 at 8:23 PM

Romanian developer Cityring Property is exploring a new residential development on a land plot of 6.5 hectares in northern Bucharest close to Atria Urban Resort, where it launched the last development phase.

The Atria Urban Resort will be fully completed in two years and will feature 1,365 residential units in total with a combined value of €140 million. In the last development phase, Cityring Property and Evergent Investments will jointly develop over 450 apartments.

“We are already thinking about a new investment so that after completing Atria, we will continue with a new residential project,” said Liviu Lepădatu, CEO of Cityring Property.

The difference between the two projects will be that the new complex will most likely include a mix of buildings intended for both sale and rental. The development is likely to start in 2027.

Home deliveries in Romania fall 20% in H1 2024

Romania's residential market recorded around 26,000 new home completions during H1 2024, down 20% over the same period of last year, according to Colliers data. 

Real estate

Homing Properties to develop 140 villas near Bucharest

Homing Properties will invest €35 million in the construction of 140 villas in Pipera, near Bucharest. 

Real estate

River Development moves all projects under Sema umbrella

Romanian investor and developer River Development has announced its rebranding as Sema Real Estate, with all current and new projects to be reunited under this umbrella. 

Economy

Turkish investments in Romania continue expansion, strengthening economic ties

Recent bilateral meetings with Türkiye's VP which took place in May 2024 showed that Türkiye's direct investments in Romania have reached $7.5 billion.

Real estate

Over 28,500 apartments under development in localities near Bucharest

The ongoing residential developments in areas near Bucharest count around 28,500 apartments, with Voluntari town and Tunari commune among the locations with the biggest volume of new construction, according to a report by Imobiliare.ro. 

Real estate

Romania's property investment market could hit €1 billion in 2024

Romania's commercial investment transaction volume could hit €1 billion this year considering the amount of deals close to completion, according to a report by Colliers. 

Real estate

Belgians lead investments in Romania's property sector

Investors originating from Belgium had the biggest share in Romania's commercial property sector in the first eight months, according to a Fortim Trusted Advisors study. 