Hercesa moves forward with residential project in Bucharest

Spanish real estate developer Hercesa started the work for the second apartment building of the third phase of the Vivenda Residencias project, which is located in Bucharest’s District 3. The building will have 66 apartments. Half of them were already pre-contracted. The developer began the construction of the first apartment block last year within this development phase. Almost all of the apartments were pre-sold before the building was completed. The inauguration will take place next week. The third phase of the project will have four apartment buildings, and the investment amounts to EUR 18 million. In total, this phase will include 244 apartments. The second apartment block includes apartments of three and four rooms. The project Vivenda Residencias had 420 apartments finalized before the crisis. In total, it will have 1,400 housing units. The developer will then focus on a project in the Orhideea area in Bucharest. The area provides opportunities because the office sector has seen strong development there. editor@romania-insider.com (photo source: Vivenda.hercesa.ro)