NEPI Rockcastle successfully completes Vulcan Residence, group’s first residential project

NEPI Residential, the residential division of Central and Eastern Europe’s largest owner, developer and property manager of shopping centres, NEPI Rockcastle, announces the successful completion of Vulcan Residence, its first residential project, which marks an important milestone in the group’s portfolio consolidation. The project, located in Bucharest’s 13 Septembrie area, has already been 80% sold, reflecting increased buyer confidence and interest.

Vulcan Residence is distinguished by its varied offer of 254 apartments, including studios and 2, 3 and 4 bedroom units, duplexes and penthouses, distributed in two adjacent buildings. Strategically located between Mihail Sebastian and Șoseaua Progresului streets in the capital, the complex offers numerous amenities, including underground and outdoor parking spaces equipped with electric vehicle charging stations, green spaces, playground and commercial spaces on the ground floor.

Vulcan Residence’s convenient location ensures quick access to the area’s amenities, including the group’s shopping centre, Vulcan Value Center, Unirii Square, the Palace of Parliament, educational institutions and parks, as well as an excellent public transport network. These features underscore NEPI Rockcastle’s commitment to providing housing that enhances the quality of life of its residents.

“We are delighted to see that Vulcan Residence, a project that incorporates the highest standards of sustainability and comfort, has been so well received in the market. This success underlines our vision to create living spaces that meet the modern needs of residents while offering environmentally friendly solutions. Begun in November 2022, work on Vulcan Residence has culminated in an energy-efficient building that meets nZEB (Nearly Zero Energy Building) standards, integrating 30% renewable sources. This firm commitment to sustainability reflects our vision for a green and responsible future. Vulcan Residence is characterized by its high quality of housing, offering a variety of apartments that meet the diverse needs of its residents in a strategic location with quick access to services and amenities. The completion of this project highlights the dedication of our team and confirms the strong demand for high quality, sustainable housing. Vulcan Residence is not just a residential development, but represents our vision of providing a premium lifestyle in harmony with the environment.,” said Iulian Rusu, Head of Residential at NEPI Rockcastle.

Crosspoint Real Estate, international associate of Savills in Romania, has exclusively assisted NEPI Rockcastle in the sale process of Vulcan Residence.

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“The Vulcan Residence project has now reached maturity. At this point in time, we are talking about a finished product, a residential development that has added value to the area. We have come through a pandemic, a war on our borders, a difficult economic climate marked by inflation, changes in the VAT rate and increased bank interest rates. Vulcan Residence has proven to be such a balanced and well-positioned project that all these challenges have not slowed sales, which have now reached less than 20% availability. The nZEB standards provide residents with a high level of comfort, along with the playgrounds, spacious terraces and quality finishes, reflecting the developer’s commitment to innovation and sustainability.”, says Oana Popescu, Head of Residential, Crosspoint Real Estate.

The project was delivered on schedule, allowing buyers to enjoy their new homes without additional waiting times. The total investment for the Vulcan Residence development amounts to approximately €25 million and represents an important step in NEPI Rockcastle’s strategy to develop residential projects that set new standards in the industry, offering a comfortable lifestyle with access to a wide range of amenities and services.