Local developer invests EUR 40 mln in first residential project in Romania with free heating

Romanian developer Alsin Management will invest EUR 40 million in developing First Estates Pipera, the first residential project in Romania offering free heating to its residents. The project in the north of Bucharest will reunite 464 apartments in four buildings and over 500 parking lots.

The first phase, which includes 232 double studios and apartments with two, three and four rooms, is under construction and is set to be delivered in April 2024. Launch prices, valid throughout January, start from EUR 97,000 + 5% VAT.

According to the developer, First Estates Pipera will be one of the most technologically advanced projects in the country: over EUR 3 million will be invested in the development and use of an innovative system of geothermal heat pumps and photovoltaic panels, through which all tenants of the four buildings will benefit from free heating. The two systems used by the project will annually produce an energy surplus 50% higher than the individual heating consumption of all apartments.

"We worked with the developer's teams to identify the best technical solutions, which will bring a real added value to the market in these difficult times, considering the increasingly high energy costs. The chosen technologies represent an innovation on the local residential market, and thus the project will use 100% renewable energy, and the residents will probably have the lowest maintenance costs on the local market," said Andrei Sarbu, CEO SVN Romania, the real estate consultant and exclusive agent of the project.

The photovoltaic panels, which will be placed on the roofs of the buildings, will produce the energy necessary for the full operation of the heating pumps and, depending on their use, will also provide a surplus of electricity which the tenants' association will use according to their own decision.

(Photo source: SVN Romania)