The developer Shikun & Binui RED Romania has sold over 50 percent of the first phase of its residential project New Point. This has sparked construction on the project’s second phase, located in Pipera, and starts work for the second phase. The first phase of the New Point project consists of two GF + blocks, totaling 136 apartments and is to be delivered in the first quarter of 2018. The first phase of the project represents an investment of around €7m. In view of the high level of demand for the project’s first phase, the developer has decided to launch construction of the second phase during the month of July. It costs of the construction of two buildings with 136 apartments and will also require an investment of €7m. Shikun & Binui RED is one of the largest Israeli developers and is also active in infrastructure renewable energy projects.
