Former fund managers to develop residential project in Bucharest

Prime Kapital, founded by the former NEPI fund managers Martin Slabbert and Victor Semionov, which partnered with the South-African fund MAS REI last year, recently acquired a piece of land in Bucurestii Noi, in Northern Bucharest. It’s the plot of the former Marmura marble factory, located close to the Jiului metro station. Prime Kapital and MAS REI plan to develop a residential project there, reports Economica.net. The piece of land covers 15,000 sqm and will host 380 apartments. It is close to the Penny Market store on the Bucurestii Noi Boulevard. “We are also looking at other limited possibilities for residential,” Martin Slabbert said. The two companies also own an 8-hectare plot near the Porsche trade center in Northern Bucharest, acquired from the Becali family with EUR 12 million. They will develop a residential project there for high-earners. MAS REI plans investments of EUR 1 billion in the region following the partnership with Prime Kapital. editor@romania-insider.com