STC Partners acquires plot of land in Bucharest for residential project

Real estate developer STC Partners has finalized the acquisition of a plot of land in the Foișorul de Foc area of the capital, where it plans to build the residential compound Quartier Ferdinand, a project with an estimated investment of close to EUR 35 million.

STC Partners purchased the 4,400 sqm plot of land on Ferdinand Boulevard from the Olaru family for EUR 7.2 million. The project already has the building permit authorization, the developer said.

Quartier Ferdinand will include 170 apartments, retail spaces, an underground parking, a rooftop recreation area, and a children's playground.

"As in Quartier Azuga, this new project is also being developed with a focus on sustainability, where energy will be provided entirely by heat pumps and photovoltaic panels. We aim to realize one of the first urban projects of this size with net zero carbon emissions in Romania," Adi Steiner, managing partner of STC Partners, said.

STC Partners previously developed Quartier Gramont, a boutique residential project next to the Palace of Parliament, which was completed in 2021. The company is currently developing Quartier Azuga, located near the Tei area of Bucharest.

(Photo: the company)