Valentin Morar’s Wallberg Properties invests EUR 62 mln in a new residential project in Timisoara

Newsroom 06/09/2018 | 12:12

Valentin Morar’s Wallberg Properties prepares a major investment in Timisoara, the XCity Towers project with 955 apartments.

Construction work began this summer and will last for several years, being organized in two stages. Wallberg has already obtained the building permit for Tower 1, with a 15-storey height scheme.

XCity Towers project will total 955 apartments in 8 buildings with G + 15 and P + 10 levels in two development stages. The total value of the project will exceed EUR 62 million, of which the first stage will amount to eur 36 million. The project will be developed in the north of the city, in the Bucovina area, near the Vox Technology Park office building, with easy access to the central area of ​​Timisoara.

XCity Towers begins with the construction of a first 15 storey building, Tower 1, which will be the first phase of the first stage of development. The building will consist of 135 apartments, 114 outdoor parking lots and 50 covered parking lots, and an area of ​​542 sqm commercial and office space.

EUR 1,083/mp the starting price

The building was designed for 30 studio apartments, 75 two-room apartments, 30 3-room apartments and 4 commercial spaces and includes 9 apartment typologies. The delivery is scheduled for the summer of 2020.

In the start-up period, the prices start from EUR 1,083/mp, around EUR 47,119 + VAT for the studio units, EUR 58,545 + VAT for the two-room apartments, while the three-room units will have a starting price of EUR 75,620 + VAT.

The apartments will be equipped with smart technology which will allow control the intercom and environmental parameters directly from your mobile phone or tablet.

”We are mainly addressing middle-class employees in Timisoara, with a growing career with good growth prospects, with rising incomes, for which it is time to become owners and to start a family. technology, IT professionals being an important segment of our target. We introduce to Timisoara a different living concept, we will use the artificial intelligence to the advantage of the tenants leading to a new level of the comfort and safety of a home, and we believe the market will openly open our concept, ”emphasizes Valentin Morar, Wallberg Properties CEO.

Wallberg Properties developed Arad Plaza premium project located in the center of Arad and finalized in 2018, Bourgeoise Residence recently completed, a villas project in Cluj-Napoca, a project completed in 2012 in Brasov, but also the Sunny Ville assembly in Brasov with the first stage completed and the second one under construction. 

Wallberg Properties brings together a group of real estate development companies coordinated by contractor Valentin Morar, active in local markets since 2004, with over 150,000 sqm built at a market value estimated at over EUR 90 million.

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