The company is already developing a residential project in Bucharest, a 300-apartment complex called Vitan Platinum Towers. The project is worth some EUR 35 million in investment. The developing company, owned by Israeli investors, has chosen Antrepriza Generala de Constructii Carpati as the general contractor for the project. Construction works on the first apartments started in March. The developer has already sold 137 apartments of a total of 163 in the first phase.
The first phase will be completed in 2008, while the second will come a year later.
The company had previously announced plans to buy EUR 50 million worth of plots in Bucharest.
The residential segment is one of the main investment targets for developers in Romania. More than 20 projects were launched on the market last year alone.