Italian investors launch EUR 70 mln residential project in the heart of Bucharest’s biggest business district
Nusco Imobiliara, a real estate developer controlled by the Italian Nusco family, has started a new residential project in northern Bucharest. Nusco City will be developed on a land plot of 2.5 hectares in the Pipera/Aviatiei area, the biggest office district in Bucharest. It will include 600 apartments and require an investment of EUR 70 million. Nusco Group owns 23 hectares of land in the area.
Nusco City will be developed in two phases, each consisting of about 300 apartments with one, two, three, and four rooms. The project will also include a green area of 5,000 sqm in the middle. The first phase should be ready in 2022.
"We are proud to announce that the works have already started. It will be one of the most balanced projects in the North of Bucharest, and this new investment shows once again the trust we have in the Romanian market. Our project will include apartments with large terraces and quality finishes, in partnership with Pinum, thus meeting the demand for housing that allows working from home, given the new trends in the labor market caused by the pandemic," said Michele Nusco, CEO of Nusco Group.
The Nusco family bought in 2002 the former Pipera furniture factory in northern Bucharest. The Italian investors kept part of the production facilities, under the company Pinum Doors & Windows, and sold part of the factory’s land to real estate developers. Nusco Group also developed an office building – Nusco Tower, sold to Globalworth in 2014.
(Photo source: the company)