Romanian real estate developer Nusco takes EUR 31 mln loan from OTP Bank

Nusco Imobiliara, part of the Nusco group controlled by Italian family Nusco in Romania, contracted a EUR 31.4 million loan from OTP Bank Romania to develop the second stage of Nusco City, the bank announced. The funds will finance the development of three of the seven buildings included in the second development stage.

The second phase of the Nusco City project will include 828 apartments (ranging from studios to duplexes), will cover an area of ​​approximately 10,000 sqm of land, and will have approximately 46,651 sqm built area, including the basement.

Each of the three buildings will include two basement levels, 11 levels, and a top floor dedicated to duplexes. The first 340 apartments are scheduled for completion in Q3 2025.

The total investment in this second phase of the project amounts to over EUR 130 million.

The Nusco City project was launched in the winter of 2020, and the first phase with 622 housing units was delivered in Q2 2023.

OTP Bank Romania is a strategic partner of the Nusco Group, supporting Nusco Imobiliara and Pinum Doors&Windows, the two companies of the group, with financing over time.

(Photo source: OTP Bank Romania)