Belgian businessman Peter de Cuyper, together with his local partner, entrepreneur Andrei Sandu, has started the construction of his first residential complex on the Romanian real estate market, on the site of the former vinegar factory in the Obor area of Bucharest.
Last November, the two investors bought two adjoining plots of land from businessman Romeo Valentin Preda, with a combined surface area of around 7,700 sqm, at a price of around EUR 6.6 million.
“We have started excavation work on the new residential project, which will comprise 206 apartments arranged in two buildings. Its sales value is estimated at around EUR 27 million and the planned completion date is July-August 2025. We aim to create a premium project, both from a construction and architectural point of view, as well as in terms of the quality of life of future residents,” said Andrei Sandu, owner of Media City real estate group.
Source: Profit.ro
