Immochan continues the third phase of its Brasov project, Coresi, a residential area with a potential for 3,000 apartments, spanning 46 hectares, company representatives inform.
The complex, covering 8 percent of Brasov’s surface, will be developed in a joint venture partnership with Avantgarden Immo Invest and will be called Coresi Avantgarden.
In a first phase, the residential project will include 150 apartments on which construction works will begin in March-April 2016. “Starting with the second year, the annual rate will double or triple, depending on the absorption capacity of the market,” said Tatian Diaconu, Immochan Romania CEO.
The Avantgarden Coresi design will be achieved by BREEAM standards of sustainable development and environmental respect.
The area benefits from recently developed road infrastructure, proximity to the city’s largest park, and the area of tertiary and university activities. The complex will be equipped with children’s playgrounds, parking lots, commercial premises and public utilities and will include three types of housing: studio, two and three bedroom apartments.
Immochan Romania has four business directions: development of real estate projects in partnership with Auchan hypermarkets; leasing for shopping galleries and retail park sites; property management activities for commercial galleries and Auchan Group properties patrimony valuation. Through the latest project, Immochan expands into one more field of action: residential property.
The group operates 375 commercial centers across 12 countries, gathering 2.3 million sqm of commercial space.
Avantgarden Immo Invest is a company specialized in the promotion, development and marketing of residential projects owned by Daniela Kasper. The company’s portfolio includes flagship projects Avantgarden1 and Avantgarden2 Brasov, cumulating 1,300 apartments built between 2006 and 2016 and also Avantgarden Tractorul Brasov, to be completed in 2016 and sold in its entirety.