Dinu Patriciu Global Properties (DPGP) has put 335 apartments in the second stage of its New Town project up for sale.
The second stage of the project, located in Bucharest’s Dristor area, was completed in April and sales began in July. Prices for the second stage apartments start at €1,000 per sqm. Apartments delivered in the first stage ran from €1,500 per sqm.
The second stage of New Town includes five buildings with 17 studios, 152 two-bedroom apartments, 107 three-room apartments, 21 apartments with five rooms and 27 duplexes.
The Irish company Mivan, the project’s developer, started construction on New Town in 2007 and completed the first phase, which included 316 apartments, in March 2009. DPGP joined the project in January 2009 with the acquisition of the investment fund Fabian, which was partnering with Mivan.
Bog’Art was in charge of construction, while UniCredit Tiriac Bank provided the funding.
