Romanian developer STC Partners purchases land for residential project in Pipera

Real estate developer STC Partners has finalized the acquisition of a plot of land in Pipera, on the northern edge of Bucharest, where it will develop the residential project Quartier Pipera.

The plot has a surface area of over 1.6 hectares and will host more than 450 homes. Quartier Pipera will start construction in Q2 2026, with the completion of the new residential compound estimated for Q1 2029. The project will be developed in two phases.

STC Partners purchased the land from healthcare provider Medicover (Anemir Investments SRL—the SPV company) for over EUR 8 million, it said.

The developer estimates that the total investment for Quartier Pipera will exceed EUR 65 million.

The green spaces and urban gardens will cover 35% of the total land plot in Quartier Pipera, from which natural deep green areas represent 25%, a gross area above ground of 42,.000 sqm and an underground surface of 19,000 sqm, the company said.

“Pipera is a very popular choice for families seeking quality education and a well-connected lifestyle, so we are glad to contribute to the area with a residential compound signed by STC Partners. We are currently designing the concept of the new project, being in the PUZ process stage. We will accommodate double studios, 2, 3, and 4-room apartments, parking lots, storage spaces, gardens, and lots of other benefits,” Adi Steiner, Partner & CEO of STC Partners, said.

STC Partners completed in 2021 Quartier Gramont, a boutique residential project near the Palace of Parliament. The company is now focused on developing Quartier Azuga, located near the Tei area in Bucharest, and Quartier Ferdinand, located on Ferdinand I Blvd.

(Photo: the company)