Monarc Development Takes Over Strategy and Sales for a €27.5 Million Project, Transforming It into Monarc Grivița 166, a Serviced-Residences Concept with Concierge Services

Monarc Development announces the acquisition, from a private investor with a strong reputation in premium real estate developments, of the strategic management and sales operations for a major urban project in Sector 1, valued at €27.5 million. The project is now being repositioned under the new identity Monarc Grivița 166, a contemporary serviced-residences concept with concierge facilities, tailored for an active urban audience and investors seeking stable, predictable yields.

Located at 166 Calea Griviței, the development benefits from an excellent position, just a five-minute walk from the Grivița metro station, offering a strong competitive advantage for medium- or short-term rentals within a serviced-residences framework.

Monarc Grivița 166 features 87 modern units, configured as 2 and 3 bedroom apartments, with premium interior fit-outs created by Noam Mobili Design, the interior design and furnishing division of Monarc Group. Through Monarc Development’s strategic repositioning, the project gains a coherent serviced-residence identity, integrating modern living standards, concierge services, and investment oriented functionalities.

Sales for Monarc Grivița 166 are now officially open, and all transactions are exclusively represented by ANG | Forbes Global Properties, the premium real estate representation division of Monarc Group, and the official Romanian affiliate of the international Forbes Global Properties network.

“With over 15 years of experience in premium real estate, we’ve learned to anticipate and define apartment typologies that respond to diverse needs and lifestyles. Monarc Grivița 166 is an example of how expertise and vision can transform a residential building into a coherent and valuable investment product. We aim to create a project relevant for both local and international investors, one that blends yield with aesthetic refinement. For us, every project must meet not only financial criteria, but also a clear vision for safety, visual identity, and an authentic living experience.” — Alexandru Manea, CEO & Founder Monarc Development

The building spans a total surface of 13,857 sqm, across a ground floor and eight upper levels, and includes four underground levels with 104 parking spaces, providing robust infrastructure essential for serviced-residences operations.

“Monarc Grivița 166 was conceived as a fluid, adaptable space, ideal for both urban residents and investors seeking a property ready for premium rental. The interior fit-outs, materials, and the experience we designed transform each apartment into a space with identity and functionality. It is essential for any urban project to respond to modern lifestyles and offer a living standard aligned with international trends.” — Nicoleta Manea, COO & Creative Director, Monarc Development