Over 45 residential complexes to be launched at real estate fair in Bucharest

Developers will launch about 45 residential complexes with a market value of over EUR 275 million at the National Real Estate Fair (tIMOn), which will take place between May 25-28 at the Bucharest National Arena. The fair will see the launch of five new phases of large assemblies. These include GVI Town phases 3 and 4, GranVia Park phases 3 and 4, Onix Pipera, New Point Pipera, and Ivonco Pantelimon. Real estate developer Gindi Group together with the company Real-Sol will launch two phases of the GVi Town residential complex to build 130 apartments with an investment of EUR 8 million. Spanish group Gran Via Real Estate will invest EUR 13 million in the second phase of the Gran Via Park project after it has already sold the first 324 apartments. The developer has already begun the construction of the second phase, totaling 310 apartments. “After years in which developments shyly resumed, with small assemblies, (...) we are currently witnessing a real eruption of large assemblies in Bucharest,” said tIMOn director Vlad Vlasceanu. Moreover, some 40 small-size projects will also be launched at the fair, with a market value of over EUR 200 million. A report made by local real estate classifieds platform Imobiliare.ro shows there are currently some 1,400 real estate projects with at least 30 apartments on the market, in Romania’s largest seven cities. editor@romania-insider.com