Green City starts works on 1,000 new homes near Bucharest in Romania

Real estate developer Green City Construct has started works on the fourth phase of the Green City residential compound in 1 Decembrie village near Bucharest. This stage will include 1,000 homes and will require investments of over EUR 60 million. The new house models, which will cover 126 sqm each, will cost EUR 69,900, which includes the VAT. Green City, developed by Romanian businessman Dumitru Bucsaru, expands over a plot of 120 hectares, out of which 24 hectares of forest and green areas. So far, 800 houses have been built, in the first three development stages and 300 families have already moved in the compound. The investment in the first three phases was of EUR 100 million, according to previous statements. The compound also includes a Red Market supermarket, operated by retailer Delhaize. The entire project should feature 4,000 houses, with a deadline set for 2014. editor@romania-insider.com (photo source: Green City)