EnglishAlpha Bank Romania and Raiffeisen Bank have signed an agreement for the first syndicated financing on the Romanian market meant for the development of the Ibiza Sol residential compound. The costs of the project will amount to approximately 57 million EUR, of which the financing will represent 40 million EUR. The two banks will contribute equal amounts to the project.
Ibiza Sol is located in the Pipera area, on a surface of approximately 38,000 square meters, of which 12,500 square meters will be used for green areas and leisure space. The compound offers 304 luxury apartments and includes swimming pool, mini golf course and other multifunctional buildings. This is the fifth project developed by Ibiza House in Romania. Up to now the company has delivered the compounds Ibiza Residential, Ibiza Club and Ibiza Golf, with a total number of 72 villas, followed by Ibiza Golf & Light and Ibiza Sol.
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