The South African developer MAS RE, together with Prime Kapital, bought land last year in Timisoara, Cluj, Brasov and have a budget of almost EUR 1 billion for the construction of over 11,000 apartments in several cities in the country.
Last year, the developer bought almost 18 hectares of the IMGB platform in the south of Bucharest, where it plans to build 3,150 apartments. The allocated budget is EUR 190 million.
The companies also bought a 9 -hectare plot of land in Brașov, suitable for the construction of 2,140 apartments, and the investment budget is EUR 155 million.
In Cluj-Napoca, the companies have secured the 17-hectare land, where they will build a mixed project, with a mall, offices and almost 1,500 apartments. The investment budget for the residential part alone is EUR 121 million.
Also last year, MAS RE announced the plans for two more new residential projects, in Timișoara, on a plot of 5.6 hectares, where 1,200 apartments will be built, and in Ploiești, where it will build 500 apartments.
