InteRo Property Development, owned by the Canadian Topolinski investors family, kicks off construction works at its EUR 1 billion, mixed-use project SkyLight Residence in Obor area, Bucharest, resulting upon completion into a 486,000 sqm total built area and almost 28,000 sqm of new green areas and parks in the neighborhood.
Phase 1 will deliver 551 apartments within 7 buildings. As construction works will accelerate by the end of this year, the developer plans to have the first residents occupy in 2027.
Michael Topolinski, founder of InteRo Property Development, said: “After paying the final installment of EUR 12.5 million on July 31, 2024, the Topolinski Family has taken full ownership of the 10-hectares plot of land in Obor area, which is now valued at EUR 120 million. We are excited to launch our most iconic and ambitious project, a reflection of our family’s commitment to the sustainable development of Bucharest real estate. We designed SkyLight Residence as a green, energy-efficient project and, given its features and transformative potential, it was included in District 2 Mayor’ project to revitalize Gara Obor and the surrounding area. The Mayor’ visionary project financed by the World Bank is an example of intelligent development and our Family is happy to get on board and create additional value for the sustainable future of this neighborhood.”
Designed to comply with the BREEAM standard of excellence certifying green projects, SkyLight Residence will be developed by using energy-efficient and advanced technologies, combining innovative design with qualitative residential living. The project includes almost 28,000 sqm of green area – the equivalent of a medium-sized park, representing more than 35% of the land area of the project, compared to the mandatory 30 percent.
InteRo Property Development estimates that SkyLight Residence will contribute at least RON 25 million-worth in annual taxes to the local budget. The developer also agreed to donate to the local administration EUR 10-million worth of new roads that will be built as part of the SkyLight Residence development, equivalent to approximately one kilometer in length.
