The Israel Land Development Company (ILDC), controlled by the family of former Mossad officer Yaakov Nimrodi, is preparing a new stage of the Estic Park residential complex, started 16 years ago on the shores of Lake Dobroesti in eastern Bucharest.
In 2007, ILDC bought a 5.4-hectare plot of land on the shores of Lake Dobroesti in the Pantelimon district, where it started the development of the Estic Park project. The company invested about EUR 20 million in this acquisition and allocated about EUR 12 million in the construction of the first two blocks with 250 apartments.
The company put the project up for sale about two years ago, against the background of the urban blockage resulting from the suspension of the Zonal Urban Plans (PUZ) of the sector, but it returned to the decision and wants to continue the development started, and is now in the process of selecting the builder.
Estic Park was planned to include a total of approximately 1,500 homes, and the investment in the development of the entire residential complex was initially estimated at EUR 94 million.
Source: Profit.ro
