Turkish real estate developer Ulas Dilmac has signed an association with Israeli investor Shmuely David Hay, through which he will take over a residential project with over 700 apartments in Bucharest’s Titan neighborhood.
Last fall, Shmuely David Hay put up for sale an authorized project for 840 apartments to be developed on a plot of over 2 hectares in the Titanul Nou district. Now the Israeli investor has signed a joint venture whereby Ulas Dilmac will take over the land and the project in exchange for 117 apartments in the future residential complex.
“We are changing the authorization received to make around 700 apartments and I think this spring we will be able to start the project. We are changing the structure of the blocks, the facade and the compartmentalization of the apartments, because in the authorized version the apartments were very small and cramped,” said Ulas Dilmac, owner of Astorium Construct Investment.
Source: Profit.ro
