InteRo Property Development, owned by the Canadian Topolinski Family, has received the building permit for luxury Smart Home residential project, Pajurei 3 Residence, with construction works to begin in the following weeks. The developer also expects to receive the building permit for SunLight Residence, a residential project with nZEB that is attractive to investors with considerable rental yields, in the following months.
InteRo Property Development will soon close the acquisition of MoonLight Meadows, a 4.5-hectare plot of land in Otopeni area with a PUZ. The large-scale residential project has an estimated investment value of more than EUR 80 million, developing more than 400 apartments in the upcoming years.
The three developments represent a combined investment in Northern Bucharest exceeding EUR 170 million.
Michael Topolinski III, Founder of InteRo Property Development, says: “This is a good time to build, as costs are more controlled, and Real Estate remains a solid investment in a maturing market like Romania. In challenging market times, qualitative projects gain traction. Buyers are taking a much more pragmatic approach to their long-term investment, looking for the best value for their purchase. Over the years, we’ve built a reputation for developing high-quality, efficiently designed, and innovative projects that generate attractive two-digit returns. Our pool of investors has steadily expanded, with capital flowing in from all over the world. Already, we’ve sold approximately 20% of the featured units in Pajurei 3 Residence (30 apartments) and approximately a quarter of the ones in SunLight Residence (48 apartments). Investors’ interest is high, and we are confident that our sales team will be quite busy throughout the year.”
Răzvan Nica, Managing Partner at BuildGreen and lead architect for Pajurei 3 Residence BREEAM Excellent Certification states: “We are in the BREEAM certification process for the Pajurei 3 Residence project, and through our dedicated approach and intensive focus on sustainability, we confidently anticipate that we will achieve the standards required to achieve BREEAM Excellent certification. Nowadays, green construction is no longer just an option, but is gradually becoming an essential requirement for modern residential developments, bringing tangible benefits in terms of energy efficiency, environmental responsibility and sustainability.”
With an estimated investment value of EUR 65 million, Pajurei 3 Residence is the first luxury project in Pajura, Bucurestii Noi and is expected to generate investors an average rental yield of approximately 7 percent (considering all price levels). The development, a 3-minute walk from Jiului Metro station will feature 160 luxury living units, including 3-room Penthouses and 4-room Penthouses with their own private rooftop garden, plus communal facilities like an outdoor pool with a barbecue area, a well-equipped fitness centre, a party room, English Courtyard, a children’s playground, dog parks, and a movie space.
Following an estimated investment value of EUR 25 million, SunLight Residence will be a more mid-market, affordable development, ideal for investors looking for high yield. SunLight Residence will include 5 blocks with 180 spacious apartments (2-room, 3-room, and 4-room with 100+ sqm garden apartments), a children’s playground, green spaces, bicycle storages, and as well as 360 parking spots. This residential project located on the border of Pipera is designed to be a nearly Zero Emission Building (nZEB), with very low utility costs given that 30 percent of renewable energy is produced by 125 solar panels placed on the buildings’ roofs. Additionally, all apartments will have in-floor heating, bringing more comfort to residents.
