Developer starts EUR 30 mln residential project in Bucharest

Real estate developer Rock Development, controlled by a subsidiary of UniCredit group, started in March the construction of the residential project Avrig Park Residence.

The project, located in Bucharest's Bucur Obor area, will include 325 apartments, commercial spaces, and 405 parking spaces.

The total investment is estimated at around EUR 30 million.

The first phase (122 apartments) should be completed in June 2021, according to the real estate consulting company SVN, the project's exclusive agent.

UniCredit Bank will finance the whole project. Rock Development has also developed the Politehnica Park Residence, a project with 434 apartments.

(Photo courtesy of the company)