Akcent Development, founded by Alin Niculae, has started the construction of 723 apartments in the Bucureștii Noi area of Bucharest, near the Jiului metro station. The investment in the project is estimated to reach EUR 90 million, according to data provided by real estate consultancy Cushman & Wakefield Echinox.
The complex, whose construction has already started a month ago, will have 5 blocks to be built in a single phase, with a completion date of October 2025.
“Bucharest has been developing at a fairly fast pace, as a European capital should be. The administrative blockage in the capital has led to a drastic decrease in the supply of new apartments on the market. The price level of building materials has also stabilised, resulting in a fair price per sqm built by the developer. In August 2023, the price per sqm asked for new apartments for sale increased by 3 percent compared to the same month last year. As a consequence of the fact that not so many new apartments were delivered, the prices of old apartments increased on average by 5 percent, according to public data,” says Laurențiu Afrasine, CEO Akcent Development.
