The Spanish developer Hercesa is looking for new land and investment opportunities, but the blockage generated in Bucharest by the urban planning situation means that land with authorizations is few and expensive.
The developer recently announced a new investment on the Bucharest residential market. The company will invest over EUR 50 million in a residential complex near the Ghencea stadium, which will have around 500 apartments upon completion.
The Spaniards also have the Cișmigiu hotel in Romania and have built over 900 apartments in the Vivenda Residencias project, also in Bucharest, where a new block with 80 apartments will be built.
The company also owns a plot of land in Bucharest on Mircea Vodă street, for which it works on obtaining authorization notices, but a launch is not ready. Most likely, a residential project will also be built on the land, according to Alejandro Solano Gallego, general manager of Hercesa International.
Source: Economica.net
