The businessman Horia Culcescu is selling 50 ha of land in Bucharest’s Berceni district, where some old greenhouses currently stand. The buyers are said to be several real estate developers that intend to build a new residential complex called Metalurgiei Park Residence.
“By the end of April, the five companies will sign buying contracts for an area of 15 ha, three to four ha for each of the buyers,” said Catalin Grigore, owner of Sud Rezidenţial, the consultancy company which has an exclusive contract for the sale of the land.
The first 15 ha will be developed within two years, and the 50 ha plot is to be developed in less than five years. The developers that are reportedly interested in the plot are Brown Residence, Top House and Viva Residence. The transaction for the land is estimated at €70m.
