The Asmita Gardens residential project in Bucharest has recently become insolvent after Alpha Bank, which financed the project, asked for the project's insolvency, which was approved by court. The EUR 120 million project on the banks of the Dambovita river in the capital city features 765 apartments but has only managed to sell up to half of them.

The seven-tower residential project is now administrated by Euro Ensol. According to media reports, Alpha Bank needs to recover around EUR 70 million from the developers, while Strabag, the construction company, some EUR 8 million.

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