Iraqi and Romanian investors partner to develop new mountain resort in Romania
Local investors Alessio Karkhi and Nicu Hagivreta started the development of Murotti Valley, a touristic project that they aim to turn into the newest mountain resort in Romania. The project is located close to the Roman Peak (1,850 meters), 17 km north of Horezu (Valcea county).
Alessio Karkhi, an investor of Iraqi origin, has been involved in several large real estate projects in the north and south of Bucharest. His partner Nicu Hagivreta owned 50% of Dent Estet, the largest local network of dental clinics, which he sold to MedLife in 2017. SVN Romania is the real estate consultant of the project and exclusive broker.
The first phase of Murotti Valley will require an investment of EUR 10 million and will comprise 74 villas with two, three and four rooms. A ski slope with a length of 800 meters and a ski lift installation is already operational, and a second sky slope, with a length of 5,000 meters and a chairlift installation, will be completed until the end of 2021.
The 74 villas will be completed in the first quarter of 2021 (39 units) and at the end of 2021 (35 units). Two restaurants and a hotel with spa, pools, and gym will also be included in the first phase of the project. All the necessary infrastructure will also be completed in the first quarter of next year.
Overall, Murotti Valley will be an integrated resort with a potential of up to 1,000 villas and an entire list of facilities and leisure options regardless of the season, from 50 km of ski slopes to shopping areas, spaces for renting sports equipment and dedicated spaces for children, according to the developers.
“Murotti Valley will be a unique concept in Romania and in the region. Our objective is to develop a new mountain resort, with multiple facilities and leisure options. We started our project from the necessity of an integrated mountain resort in Romania, a country with so much natural and attractive resources but with very little tourist attraction from a product perspective. We want to develop the local tourism sector and bring it to Western standards, to highlight the beauties of this country,” stated Alessio Karkhi, one of the investors in the project.
Murotti Valley is projected to include at completion over 50 ski slopes, tennis fields, bike paths, forest trails, shops and spaces for services and sports equipment renting, ATVs and snowmobiles, outdoor swimming pools, hunting ground, stud farm, golf course, farm, and a children park. Finally, Murotti Valley is also projected to include a campus of a university from Switzerland, a care center for seniors and a detox clinic, while the residential area of the project could include up to 1,000 villas.
Murotti Valley also promises a unique investment package for the Romanian market. Those who will want to acquire a villa in the project for investment will be guaranteed an annual yield of 7% for a period of 11 years, regardless of the renting period – this being the longest such period in Romania – and will also have a usage right of 30 days per year, according to a press release.
The first 74 villas will have two, three, and four rooms, with overall surfaces starting from 127 square meters up to 180 sqm, with land plots from 315 sqm and two parking spaces included, and will have prices from EUR 130,500 plus VAT.
(Photo source: the company)