Turkish group invests EUR 50 mln in mixed real estate project in Bucharest

Turkish real estate development company Caba Group has launched the 102 The Address project in Bucharest, a mixed real estate project that will require an investment of EUR 50 million. The project will include 273 apartments, office space and 2,900 sqm of retail spaces. A parking lot with 503 places will also be included. The developer has closed an exclusive representation deal with Premier Estate Management for the residential component. The project is financed by Garanti Bank. 102 The Address is located in the Barbu Vacarescu Area, one of the hottest in Bucharest for premium residential developments due to its proximity to the city’s most important office hub. The apartments in the complex sell at prices starting at EUR 90,000 and 94 units have already been contracted. The developer has opened a showroom that includes a full-size apartment, which required a EUR 500,000 investment. editor@romania-insider.com (photo source: 102theaddress.ro)