Romanian real estate developer gets permit for 464-apartment complex

Prime Kapital, a real estate developer established in Bucharest by Martin Slabbert and Victor Semionov, founders and former managers of the South-African investment fund NEPI Rockcastle, has obtained a building permit for the Marmura Residence real estate project, Profit.ro reported.

The compound will include five buildings with a total of 464 apartments. It is the second residential project developed in Romania by Prime Kapital.

Last June, Prime Kapital launched Avalon Estate, its first residential project in Romania, which will have 733 apartments and villas.

Marmura Residence complex is located in Bucurestii Noi, near the Jiului subway station in northwest Bucharest. It is developed on a 1.5 hectare plot of the former Marmura factory. Its construction will begin in the near future, and the first units will be delivered in 2021.

Prime Kapital recently purchased, through a company established two years ago, the land and industrial premises held in Iasi by Teba Industry. The company plans to develop there a EUR 200 million office and housing complex.

Prime Kapital is a developer, investor and real estate operator focused mainly on the retail and residential segments in Central and Eastern Europe.

(Photo: Marmura Residence Facebook Page)