Prime Kapital kicks off development of 600 apartments in Romania

Business Forum

17 October, 2024 at 7:35 AM

Prime Kapital has started the development of close to 600 apartments in Bucharest and Iași following the completion of 700 residential units in both cities.

The new apartments are built in the Avalon Estate complex, near Bucharest, and in the Iași-based mixed-use project Silk District.

Over the past year, Prime Kapital has completed close to 1,000 apartments and 30,000 sqm of office and retail spaces. The developer has also delivered Argeș Mall in Pitești, while Mall Moldova is in an advanced development phase.

The developer said it aims to start the sales for the next phases of Avalon Estate and Silk District in the spring of 2025. Some 850 homes will be developed in this phase across the two projects.

Mortgage loan volumes in Romania gain 49% on eight months

Mortgage loans worth €5.5 billion were granted in total at a national level in the first eight months of 2024, up 49% compared with the same period of last year, according to data from the National Bank of Romania (NBR). 

Real estate

Park Properties buys 15,000 sqm land plot near Bucharest

Real estate developer Park Properties has purchased a 15,000 sqm land plot on the shores of Lake Snagov, near Bucharest, for a luxury villa residential development.

Real estate

Speedwell kicks off last phase of resi project in Bucharest

Speedwell has started the construction of the last building of its Triama Residence project in Bucharest.  

Real estate

Cityring Property explores new resi investment in Bucharest

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.

Real estate

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. 