The construction company Bog’Art and businessman Omar Akili, an investor in the real estate developer Forte Partners, have teamed up in a structure with equal parts in order to carry out premium residential projects, having in preparation over 1,000 apartments in Bucharest.
Bogdan Doicescu and Akili started with the Art City project, a development with 141 apartments and a value of EUR 20 million, on a plot of land bought from OMV Petrom. Adjacent to this project, the two partners bought another plot of 2.6 hectares and decided to share it with another neighboring plot of land, 4.4 hectares.
“Given the area of over 7 hectares of land, we have a responsibility to outline a new neighborhood in the next 10 years, with the possibility of building over 2,000 apartments, multiple forms of commercial space, services, related functions and infrastructure specific to a project of this magnitude,” says Bogdan Doicescu.
At the same time, on the Bog’Art base on Calea Dudești, investors are preparing the construction of a EUR 50 million project, with over 250 apartments. “The land of 8,200 sqm in Calea Dudești has a recently approved detailed urban plan and we have almost all the necessary approvals to submit the building permit, but in the unpredictable context caused by the cancellation of the sectoral urban plan in Sector 3, it is very likely to resume steps to make an individual PUZ for this field. We aim to develop a predominantly residential project with over 250 premium units, in line with our projects and the company’s strategy. We estimate that the project could start in the next two years, and the investment budget is about EUR 50 million,” adds Bogdan Doicescu.
Source: Profit.ro
