Akcent Development continues its investment strategy on the Romanian real estate market by launching a new residential project in Bucharest, Akcent City, with 810 apartments, an investment of approximately 75 million euros.
The project will be developed in the Bucureștii Noi area in the 1st district of the city, near the Constanța bridge, where Akcent Development owns a 20,000 sq m land plot. The area where the project is located is currently under full development and has recently attracted the attention of investors who traditionally preferred other parts of the capital city, such as Floreasca-Barbu Văcărescu or northern Bucharest.
The area’s connection with the other parts of Bucharest and with the city center through the future Metro line number 6 has increased its overall attractiveness.
Laurenţiu Afrasine, CEO of Akcent Development: “The success of our projects gives us confidence to continue investing in Bucharest, and the launch of Akcent City is a proof that we are optimistic in regards to the evolution of the local real estate market. Moreover, the 75 million euro investment is just one part of our plans for the near future. We believe in the Bucureștii Noi area, where a new pole of mixed-use real estate development is foreshadowed: residential, offices, retail.”
The project will consist of five blocks of 10 floors each, with a built area of 104,000 square meters and two basement levels. In addition, Akcent City will provide a generous area of 6,200 square meters of green spaces, out of which around 2,000 square meters will be of parks and common areas, an ideal project for families with children.
Work is currently underway for the demolition of the buildings on site, which is due to be completed this month. The main construction part of the project is scheduled to begin in January.