Real estate company Grand Development invests over EUR 12 million in the development of Montebello Transylvania Resort located near Brasov. The company was founded and is coordinated by Ionut Nicolescu, after exiting real estate consultant SVN Romania and real estate holding Meta Estate Trust, companies where he was one of the co-founders.
Montebello Transylvania Resort will consist of 47 chalet-style Scandinavian villas, with large, glazed spaces and premium amenities, such as gazebo, jacuzzi, private landscaped gardens and two private parking spaces. The project is located in a mountain meadow near Brasov.
The villas are currently being connected to the utilities and the general arrangements of the plot and the project, which will also include three parks and a range of facilities, such as a concierge service for bookings, sports equipment rentals and catering and supplying services. The first phase of the projects will be completed in November 2023.
“Brașov has become the second largest regional residential market from Romania and is the market that offer the highest investment return in the country, with properties here attracting tourists throughout the year. Brasov’s development potential is huge, and the opening of the International Airport will bring a significant boost on all economic levels, including the tourist one – only two charters flights can occupy the entire five-star hotel capacity in Brasov. We thus decided to develop not only a project that would satisfy the wishes of a buyer of a premium holiday home, but also a product that would offer a high investment return,” stated Ionut Nicolescu, founder Grand Development.
