Metropolitan Residence, a real estate developer controlled by Romanian investors, will develop two new residential projects in Bucharest’s Mihai Bravu and Viilor areas.
The two projects will have 281 apartments in total and will require EUR 25 million investments, Wall-street.ro reported. The completion is scheduled for the end of 2021.
“We have chosen two central locations because we noticed a development of the infrastructure and an increase in the quality of life in the two areas, which helps us position our apartments in the middle-class category, with sales prices between EUR 1,500 and EUR 1,600 per sqm,” said Dan Dragulin, managing partner Metropolitan Residence.
The Metropolitan Viilor project will be the bigger of the two, with 200 apartments close to the Carol park.
The company also owns land for development in Northern Bucharest. Metropolitan Residence has delivered over 3,000 apartments with investments worth over EUR 200 million since its launch in 2010.
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