Israeli investors pour EUR 10 mln in luxury apartments in Bucharest

Real estate developer RU Shalit, founded in Israel by entrepreneurs Rivka and Uriel Shalit, plans to build a tower with 50-60 luxury apartments near Free Press House (Casa Presei Libere) in the northern part of Bucharest, Profit.ro reported.

The project will be developed on a land plot bought at an auction from insolvent state-owned printing house Coresi for EUR 1.1 million, in 2018.

The entrepreneurs operate in Romania through Prime Equity, which recently bought the 1,905-sqm plot, adjacent to the Free Press House.

RU Shalit wants to build a tower with 15 floors, 60 meters high, with two basements dedicated to parking. The investment budget for this project amounts to about EUR 10 mln. The project will include around 50-60 rather large sized apartments and commercial spaces on the ground floor and first floor, disclosed Laurențiu Sorescu, the representative of Prime Equity in Romania.

This is the second project of the Israeli entrepreneurs in Bucharest, after the Floreasca Residence project, near Verdi park.

(Photo source: Shutterstock)