NEPI Rockcastle has obtained a building permit for its residential project with 256 apartments that will be built near the Vulcan Value Center shopping center in the Rahova district of Bucharest.
The land on which the Vulcan Value Center was built in 2014 has an area of 7.7 hectares.
NEPI Rockastle built the retail park with an area of 25,000 sqm, and was left with about 18,500 sqm of free space on which to build the new residential complex.
Along with the 23-story tower and about 250 apartments designed next to the Mega Mall in Pantelimon, Vulcan Residential Park is the entrance to NEPI Rockcastle on the residential sector. The investor announced that he has allocated an initial investment budget of EUR 83 million for residential projects in Bucharest, Timisoara, Brasov, Craiova, Ramnicu Valcea and Satu Mare.
