Developer Speedwell secures EUR 21.5 mln financing for Bucharest mixed-use development
Real estate developer Speedwell announced the signing of a EUR 21.5 million financing agreement with Intesa Sanpaolo Bank Romania for the residential component of QUEENS District in Bucharest on Tuesday, June 30.
The financing will support the development of the residential component of QUEENS District, which will include 237 premium apartments designed for both living and long-term investment. The project brings together residential, office, retail and publicly accessible amenities in an integrated urban ecosystem in Bucharest’s Aviației area.
The transaction comes at an important moment for the Romanian residential market, shortly after the new regulations regarding the protection of buyers’ advance payments became operational. The new framework introduced a more structured approach to residential pre-sales, with stricter requirements regarding reservations, advance payments, cadastral procedures, and the use of funds received from future buyers, according to the developer’s press release.
Speedwell representatives noted that as advance payments from buyers are now subject to clearer restrictions and dedicated use, bank financing becomes an even more relevant indicator of project quality, developer credibility, and delivery capacity.
“The financing granted to Speedwell reflects Intesa Sanpaolo Bank Romania’s firm commitment to supporting the transition to a sustainable urban environment and to financing top-tier real estate developers who incorporate rigorous energy efficiency criteria and Excellent BREEAM standards into their projects,” said Denisa Guberna, Head of Corporate at Intesa Sanpaolo Bank Romania.
Alongside the residential buildings, the project will include approximately 23,000 sqm of modern office space and around 2,500 sqm of retail and services.
The office component has already attracted STRABAG as General Contractor and first anchor tenant, with the company set to relocate its Bucharest headquarters to QUEENS District under a long-term lease agreement.
The residential component of QUEENS District includes apartments with 1, 2, 3, and 4 bedrooms, designed for young professionals, entrepreneurs, families, and investors looking for a premium address in a mature urban area.
The first two residential buildings will include 147 apartments out of the total 237 units planned within the project. The development is conceived around landscaped green areas, pedestrian walkways, an inner courtyard, curated retail and services.
Delivery is scheduled for Q1 2028.
(Photo source: press release)
