Adama, leading residential real estate developer in Romania, fully owned by IMMOFINANZ Group, officially announces commencing construction for a completely new 77-unit residential project in Berceni neighborhood, in Bucharest. After having resumed post-crisis developments in 2012, this is the first compound built within a completely new area of the city since up to date the recently built sites were new development stages, part of already existing projects.
The investment for this project amounts up to 3 million EUR, entirely allotted out of the company’s funds, with building works started in March 2015 and scheduled for completion within 12 months’ time. The newly-built project provides for a 10-storey building consisting of 77 units – studios, 2 and 3-room apartments, located in the heart of long-established Berceni neighborhood in Bucharest.
The general contractor of the works is PlastROM, a Romanian company having wide experience in the construction field, having completed various office buildings, residential compounds or shopping centers up-to-date, whilst the project management of the works will be ensured by Vitalis Consulting, company involved in all Adama’s post-crisis projects.
“The residential sector in Romania is one of the most important aims on the company’s local developments radar since this submarket gradually faces an ascending trend, whilst the housing offer targeting the middle-class customers is insufficiently covered. Starting with January 2014, we have initiated a thorough analysis of IMMOFINANZ and Adama common plot portfolio in order to establish the most appropriate destination for each land and the Berceni plot is the first one to get developed consequent to this analysis”, says Laszlo Csiki, CEO of Adama Group.
