Developer invests EUR 20 mln in expanding residential compound in Bucharest

The real estate company Opus Land Development, which has developed the residential compound Cosmopolis located in the north of Bucharest, will invest some EUR 20 million this year to build 500 new apartments and villas within the project. It will also build a strip mall with a rentable area of 3,500 sqm. The future shopping center will include a Carrefour supermarket, a miniPrix discount fashion store and three restaurants. The house sales in the Cosmopolis compound rose by 34% last year, said Gabriel Voicu, Director of New Homes Division at Coldwell Banker. The developer has sold over 1,000 homes in three years. The compound currently has 2,100 completed homes, which accommodate over 3,700 inhabitants. Opus Land Development is part of Turkish group Buyukhanli. editor@romania-insider.com