Cristian Erbasu and Daniel Piturlea start construction for 1,000-unit residential project Arbo Residence

Newsroom 20/09/2018 | 09:44

Businessmen Cristian Erbasu and Daniel Piturlea started the construction of an 1,000 homes residential project in Mogosoaia, named Arbo Residence, which will receive an EUR 70 million investment.

The two businessmen, who own equally the project, will invest around EUR 20 million this year.

The land for the project was acquired last year and has a surface of six hectares.

The first phase of the project will include 300 apartments, and plans are to sell 50 of them this year.

The whole project will be delivered in 2022.

Arbo Residence will include studios, two and three-room apartments, and duplex apartments.

Cristian Erbasu controlls construction compay Erbasu Constructii, and Daniel Piturlea is the majority shareholder of the constructor Concelex and has built the Orhideea Gardens residential complex with 400 apartments before the crisis.