Investor and real estate developer Prime Kapital decided to get the construction authorization for the whole Avalon Estate residential project in northern Bucharest that encompasses 733 housing units, and not for each phase separately as announced at the start of the project.
The investor says it was encouraged to do so because sales proceed at a fast pace. Of the 38 units available during the pre-sale period, the company managed to sell all the apartments, half of the “townhouses”, located in a more dense area of the project, were 50% reserved, and two-thirds of the “park-view apartments”. Currently, there is a waiting list for the dwellings in the complex, and the prices are between EUR 95,000 and EUR 284,000 per housing unit.
Obtaining permits for the entire project allows the developer to accelerate the work and streamline the delivery rate of the dwellings within the project. Thus, construction works begin in autumn this year, and the first owners will be able to move by the end of 2020.
Avalon Estate will bring together a mix of homes: villas, townhouses, and apartments made in different styles and compartments. The residential complex will be built on 8.1 hectares and will have 733 housing units.
(Photo source: the company)
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