SIF Moldova to develop EUR 100 mln residential project called Atria Urban Resort

Straulesti Lac Alfa – a company owned by SIF Moldova – and Cityring Property have announced the development of Atria Urban Resort, a large-scale residential village with 1,400 apartments set to be built in four phases up until 2023, following an investment of over EUR 100 million.

The new project is being built in Bucharest’s District 1, near Straulesti Lake, adjacent to the Colosseum Retail Park, and spans across nine hectares of land.

The first phase comprising 160 apartments (studios, one and two bedrooms), a private park and a pool dedicated to residents is already under construction and is to be delivered in Q3 2019.

“Atria Urban Resort is a completely new concept on the market, made possible by teaming up with London-based JTP Architects, specialized in community planning. With a vision that places people at the center of the design process, we have obtained a project where 75 percent of the surface is dedicated to interior parks, green spaces, alleys and parking units, integrated in a unitary landscape concept”, explained Liviu Lepadatu, CEO at Cityring Property, an investor in the project.

Along with facilities such as playgrounds, pools, pedestrian paths or dedicated areas where kids can interact directly with nature, the community will benefit from its Community Manager whose role will be to organize events for residents from parenting and educational programs to parties, free-time activities, art shows and exhibitions.

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First phase 

The first phase includes the sale of studios with net areas of 40 sqm, one-bedroom apartments (50-60 square meters) and two-bedroom apartments (65-85 square meters range).

The average sale price is EUR 1,150/sqm + VAT, so that most of the units satisfy requirements for the legal 5 percent VAT.

“Our project mainly targets young families, offering a superior quality of living at affordable prices, in an urban area, with massive infrastructure improvements”, Liviu Lepadatu further details.

SIF Moldova focuses on the real estate sector, especially on the Northern Bucharest market and the area surrounding the A3 highway. Straulesti Lac Alfa is the third project in which SIF Moldova has invested in Bucharest, after Veranda Mall and Baba Novac Residence.

Cityring Property is a company owned by local businessmen Liviu and Eugen Lepadatu, known for the development of Tornado Sistems, a pioneer in PC systems technology and one of the biggest companies active on the IT&C distribution market.

An engineer by profession, Liviu Lepadatu is also the founder of Ken Academy, a business entrepreneurship academy dedicated to children. Cityring Property is an investor in the Atria Urban Resort and is also the company which assures the management of the real estate project.