Helios Development assigns EUR 350 mln to Bucharest and Mamaia projects

After the company launched its first residential project in Romania, the English village compound located at Clinceni and worth EUR 150 million in total investment, the developer plans to expand the concept to Constanta, according to company representatives.
“We are in further negotiations over purchasing two plots of land located near Bucharest and Mamaia where we plan to develop two
projects of commercial and residential space,” said Philipe Stapley, general manager at Helios Development.
According to developers, from the total investment in English Village, EUR 6 million represented the price of the land.
English Village is being developed on 240,000 sqm of land where the company will build 710 residential units, apartments and villas. According to developer, the housing will deliver 77 to 292 sqm built areas and prices will range between EUR 118,000 and 375,000 not including VAT.
The project will be developed in six stages, with an estimated duration for each stage of 18 months, so the whole thing should reach completion in 2012.

Magda Purice