Regional Development and Tourism Ministry plans to build 186-hectare residential project in Bucharest

Romania's Regional Development and Tourism Ministry, along with the Defense Ministry are planing to built the largest residential compound in Bucharest, which will spread over 186 hectares on sectors 5 and 6 of the capital city. The Regional development and Tourism Minister Elena Udrea (in picture) has announced the plans to build the mini-city upon launching a new National Housing (ANL) residential compound in Sector 2 of Bucharest. The 1,500 apartments in this newly- launched project in Bucharest's Sector 2 cover the apartment demand in Bucharest, which is of 650 housing units. The ministry has EUR 500 million to build National Housing (ANL) apartments. “Selling the current houses – 21,000 apartments- to their inhabitants will mean EUR 500 million for our budget and we can use these to build. We could also use private funds,” said Elena Udrea. The Ministry's standard price per sqm was of EUR 341 for the ANL housing, but the paid price was smaller, according to Udrea. The Sector 2 ANL housing project requires the approval of the detailed urban planing and drafting the technical project. Works on this project will take a year. Half of the apartment will be destined to the National Defense Ministry, the rest going to the Bucharest Sector 2 City Hall. romania-insider.com