STC Partners gets building permit for Quartier Azuga residential complex in Bucharest

Real estate developer STC Partners obtained the building permit for both phases of the Quartier Azuga residential complex to be built in Bucharest’s Doamna Ghica area. Construction is set to start in November.

The complex also got the Green Homes pre-certification. According to the company, this certification and the nZEB standard “ensure up to 70% savings in gas and electricity bill costs, high air quality, low carbon emissions, low common costs, favourable conditions for accessing a bank loan for the acquisition, and the prospect of reduced taxation in the future.”

The first phase’s development will be completed in the first half of 2024, followed by the second phase in parallel, with a deadline to complete the entire project in early 2025.

Quartier Azuga launched the pre-sales this summer, booking so far over 25% of the apartments from the first phase.

“The clients who have made reservations are mostly final clients, who purchase to become residents within the residential compound, but investors also show a good interest,” said Adi Steiner, Managing Partner, STC Partners.

“We estimate that the first phase will be sold out during the next year, considering the benefits of the project and the high interest shown by the customers,” added Alin Popa, Business Development Director, Residential, Crosspoint Real Estate, the exclusive sales partner of the project.

STC Partners continues the story of Quartier Gramont, the boutique project near the Palace of Parliament, completed and sold out in 2021.

(Photo source: STC Partners)