EnglishConarg Group will launch two new residential projects this fall, in Titan and Politehnica areas of Bucharest. The overall budget is 80 million EUR, according to CEO Valentin Visoiu.
The project in Titan will measure 90,000 sq.m. and comprise some 900 homes on a budget of 50 million EUR. The project in Politehnica will require 30 million EUR to build 500 homes on some 50,000 sq.m. The company is also in the process of acquiring 12,000 sq.m. of land in Baneasa, the north of Bucharest, for a project to be defined soon.
Conarg will also develop a small residential project in Pitesti, where 30 apartments will be built on 3,000 sq.m. The investment stands at up to 2 million EUR. Conarg has just finished Quadra Place, a residential project in the Politehnicii area, where 32 million EUR turned into 11 apartment buildings sold for an average of 1,200 EUR/sq.m.
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