Redport Capital announces the start of construction on Phase III of The Level Apartments project after obtaining building permit. Designed as a smart and sustainable residential complex, complying with current nZEB standards, the project is developed in four phases, with a total of 500 units and a total investment of EUR 60 million.
Phase III of The Level Apartments project, located in northern Bucharest near OMV-Petrom headquarters, will encompass a built-up area of approximately 10,000 sqm. By the end of 2025, the project will provide an additional 105 apartments, ranging from studios, two-bedroom, three-bedroom to four-bedroom units, as a first for the project. Over 70 percent of these apartments have already been pre-contracted. The complex will feature 136 parking spaces, both underground and above-ground, along with over 300 sqm of commercial and service area which will serve both future residents and neighborhood inhabitants. The investment value for Phase III of The Level Apartments project exceeds EUR 13 million. The financing will be a combination of equity capital and bank financing secured from First Bank. First Bank’s contribution amounts to EUR 8.7 million, including a EUR 1 million VAT credit line.
“Following the great success of the first two phases, we decided to accelerate our development plans at Redport Capital. This ambitious project, initiated in 2017, reflects the company’s unwavering belief in the potential of the Dămăroaia-Străulești area. With the completion of the first phase, the area has emerged as a major point of interest for residential development in Bucharest. The success achieved with Level I and Level II confirms the appreciation for our high-quality standards and competitive pricing. The Level Apartments III marks a new chapter in the project’s story, incorporating significant technological improvements and reinforcing the company’s commitment to sustainability while providing convenient access to modern amenities,” stated Cosmin Savu – Cristescu, CEO of Redport Capital.
