Cordia Romania starts construction works on Parcului20 residential project

Cordia Romania has started construction works on the Parcului20 residential compound located in the Expozitiei area in Bucharest, with Concelex appointed as the general contractor.

“Parcului20 will bring to Bucharest’s residential market 469 apartments for the medium and medium-high segments, being one of the first smart residential projects in Romania”, said Mauricio Mesa Gomez, Country Manager Cordia Romania and Member of the Board Cordia. “After we obtained the building permit for Parcului20, we chose the general contractor following a thorough analysis of received offers, based on Concelex’s experience in the construction market and on the quality of their delivered projects. Our goal was to find the contractor that would be able to implement a complex solution such as the one thought for Parcului20, a solution that means building 469 apartments having high-quality finishes, equipped with integrated state-of-the-art smart home systems. We are confident that this partnership will help us deliver on time an optimum product, perfectly adapted to market demands.”

In December 2018, Cordia Romania, the residential development division of Futureal Group, received the building permit for Parcului20 condominium, developed by the company in the Expozitiei area in North Bucharest, on Parcului street, through an investment of EUR 40 million, to be implemented in two to three years’ time.

Parcului20 will be developed in two phases and will feature a total of 469 apartments, with an focus on creating a perfect balance between location, architecture and property prices. The construction of the first 260 apartments will be finished by September 2020, and the second phase will be delivered eight to twelve months later.

The 469 apartments in Parcului20 are designed for the medium and medium-high segment of the market and will be available in 30 different configurations, from studios and two-room apartments to five-room duplex apartments. More than half of the apartments qualify for the 5 percent VAT.

Parcului20 is among the first smart residential projects in Romania, as all of its 469 apartments will be equipped with integrated state-of-the-art smart home systems. Over 3,000 square meters of private garden, bicycle parking spaces, yoga garden and outdoor equipment for calisthenics are amongst the main differentiators, as the project is designed for livability and energy efficiency.

Considering the fact that the building permit is issued for both phases of Parcului20, the time schedule on the construction site is designed so that the garden will be planted and ready for use immediately after the completion of the first phase. The second residential building, comprised of 209 apartments, will be built without affecting the access to the condominium`s facilities.

Recently, Cordia Romania acquired four land-plots located in North Bucharest, with the purpose of developing residential projects destined for medium and medium-high segments. The total investment in the development of the four plots, part of Cordia`s long-term strategy in Romania, amounts to approximately EUR 100 million which will be added to the EUR 40 million that will be invested, over the course of two to three years, in Parcului20 project. Cordia Romania aims to develop 500 apartments annually in the coming years.

Cordia Romania’s primary objective is to become the main regional developer of residential projects and to extend its activity by developing sustainable projects that highlight existing local communities.