Local developer announces EUR 65 mln residential project in Oradea

Prima Development Group, a real estate developer in the western Romanian city Oradea, started work on the 1,226-apartment Arena Residence residential project, designed to be the city's largest and most modern residential complex, Bursa reported.

The developer plans to complete the project in 2024. The total investment amounts to EUR 65 million.

"We thought of the Arena project as a unique one, which would satisfy not only the requirements of those who want to live in a space with a modern architecture, with state-of-the-art finishes, in safe and reliable homes, but especially the requirements of those who want to experience every day the feeling of home, of belonging to a place," says Andrei Moant, Chief Executive Officer - Prima Development Group.

The biggest developer in Oradea, Prima Group, emerged from a construction company and eventually entered Bucharest's residential market as well. This March, it delivered the first boutique apartment project following a EUR 8.5 mln investment.

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