Real estate developer STC Partners obtains financing from Banca Transilvania for the development of phase II of the residential compound Quartier Azuga, located near the Tei area in Bucharest, worth EUR 10 million.
Quartier Azuga is renowned for its commitment to sustainability, featuring Green Homes pre-certification and compliance with the nZEB standard, which commits to its residents high-quality living, with significant savings in utility costs and a reduced carbon footprint.
“Securing the Phase II development credit prior to the completion of Phase I is a strong indicator of our project’s success and the capability of our development team. This continued partnership with Banca Transilvania ensures the timely completion of Quartier Azuga, we warmly thank the support of our professional partners from Banca Transilvania”, said Andrei Stefan, Partner, STC Partners.
Recently, STC Partners started the development of Phase II of Quartier Azuga, with a total investment value of over EUR 15 million. This phase includes three buildings with 115 apartments, ranging from 2-room to 4-room apartments, as well as spacious duplex-type units set by the lake shore, with estimated completion by the end of 2025. Phase I construction works at Quartier Azuga are well underway, a few months away from handover to clients.
