Over 260 new apartments and villas, grouped in five housing projects, will be delivered onto the market in the wake of investments worth 60 million euros.
The housing projects, located in Bucharest and Sibiu, can be viewed at the winter edition of tIMOn National Real Estate Fair, which opened on Wednesday at World Trade Center Bucharest.
The largest investment (25m euros) will be carried out by Corsaru Rosu Impex '93, owned by businessman Ion Rosu. The La Riviere project, located on Bucharest-Pitesti highway, includes 60 houses, for which the price per built square metre stands at 1,200 euros, Ana Maria Preda, the company's sales manager, told ZF.
"So far, we have finalised 20 houses and sold five. I estimate we will finish building the other 40 houses by next March," Preda added.
The second largest investment (10 million euros) will come from Sibiu-based Teia Construct. "The project includes 70 villas built on land that covers 48,000 square metres. So far, 40 houses have been finalised, with the rest to be built in 2009," said Roxana Stoia, sales executive of Teia project. The most expensive villa Teia Construct has for sale at the fair cost 170,000 euros, VAT included.
The other 3 new projects are Elite Residence-Pipera, IOR Residence-Titan and Mayer Residence-Berceni.
Elite Residence, developed by a natural person, is located in the Pipera area of Bucharest and will include 20 luxury apartments.
The complex involves an investment worth 6m euros from businessman Babu Nicolae. The project includes two penthouses worth 750,000 euros.
These are the most expensive houses on sale at the real estate fair. The funds necessary for the project were contracted from Piraeus Bank.
MayerResidence is developed by Valentin Construct Imob, which is controlled by Mircea Gradisteanu who, after working for 8 years with a US-held firm, decided to invest on the real estate market. The project will include 64 apartments in 2 blocks with investments worth 4m euros.
The cheapest house presented at the fair is located in Sara View Residence of Costinesti and costs 27,500 euros. The lowest prices for apartments range between 120,000 and 160,000 euros.
A number of 50 exhibitors, both developers and promoters, are presenting over 8,000 houses with a total value of around 2.5bn euros at the event, which lasts until December 16.
Admedia Consulta, the exhibition's organiser, expects 10,000 visitors and quick sales worth 5m euros.
At the previous event in October, the number of visitors reached 24,000 and sales amounted to 8 million euros.
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