Villar Group puts EUR 11 mln in residential development in Bucharest

Villar Group, the developer of the Vitan Business Center and Dorobanti Office Building, is investing EUR 11 million in a new, high-end residential project in Bucharest, the company announced. The development, called Vida Herastrau, comprises 86 apartments. It is located near the capital’s Herastrau Park, now renamed King Michael I, behind the Ponderas - Regina Maria Hospital. The compound has a large mix of one, two and three-bedroom apartments, with terraces, in a low-height building, with five floors. The construction started one year ago, and the project is to be delivered to the buyers in the fall of 2019. The developer started the pre-sale campaign this spring and has signed reservations for 10% of the available stock. The project manager for Vida Herastrau is Avi Sigalat. He also worked on the AFI Cotroceni shopping mall in Bucharest, on AFI Mall Moscow, and numerous residential compounds in Israel and luxury hotels in Germany and Spain. Villar Group is a public company trading on the Tel Aviv Stock Exchange since 1993. editor@romania-insider.com