Hungarian real estate developer Ablon, a company listed on the London Stock Exchange, will, in the coming period, start construction works on a real estate project comprising 1,800-2,100 apartments in Bucharest, with the value of the investment being estimated at 160-170 million euros. The funding is provided by the Banca Comerciala Romana (Romanian Commercial Bank - BCR). "We are involved in a tender to select the general contractor, and we will start construction works after the contractor is chosen, and weather conditions improve. The construction will take place over three stages, with the first stage (4 apartment blocks) scheduled for completion within 20-24 months," said Cosmin Vispescu, sales director at Ablon. The project, named Sunset Residences, will consist of ten 16-storey tall blocks with 1,800 to 2,100 apartments. The apartment mix will be adapted depending on market demand.
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