EUR 5 mln residential project to be delivered in August 2016 in Cluj

A EUR 5 million residential project called Contemporano will be developed in the semi-central area of Cluj-Napoca, Coldwell Banker announced. The project is developed by EBS Real Estate Investment in partnership with local construction company Coratim Group and will be completed in August 2016.

EBS Real Estate Investment is owned by Daniel Metz, founder of software solutions and services provider EBS Romania, who will invest EUR 5 million in the development of Contemporano. Coldwell Banker Transilvania, the local office of Coldwell Banker Affiliates of Romania, is the project’s consultant and sales representative.

Contemporano will consist of 73 apartments including studios, one and two bedroom flats, located in two buildings with five and six stories respectively. The residential complex will be located close to Babes Park, Central Park and Cluj Arena.

“The Cluj-Napoca residential market has seen a significant increase in 2015 as the demand increased for new housing from young people working in the many companies that have developed activities in the region. We estimate that this year will see approximately 1,500 new units in Cluj-Napoca and Floresti developed from private funds, more than double the previous year,” said Anamaria Burca, managing partner of Coldwell Banker Transylvania.

Surfaces of homes in the Contemporano vary between 36 and 80 useful square meters, while prices start from EUR 47,997 euros (VAT included) for studios, from EUR 63,022 for one-bedroom apartments and EUR 65,500 for two-bedroom apartments. The project will include commercial spaces on the ground floor of buildings, children’s playgrounds and green spaces.

Daniel Metz is a local IT entrepreneur, the CEO and founder of software solutions supplier EBS Romania, a company acquired in 2013 by the Japanese group NTT Data, an IT group with annual turnover of over EUR 12 billion and over 76,000 employees globally. EBS Romania has about 800 employees in its office in Cluj-Napoca.

Coldwell Banker Transylvania is the local office of Coldwell Banker Affiliates of Romania and sales representative for Contemporano and Riviera Luxury Residence, both in Cluj-Napoca.

Coldwell Banker Affiliates of Romania provides consulting, brokerage and management of real estate properties in all market segments: residential, office, industrial, land and investment. With a history of over 100 years, the US company is owned by Realogy Corporation real estate franchiser. Through its network, Coldwell Banker covers 50 countries with 3,800 offices and has over 80,000 consultants and brokers.

Natalia Martian