Prime Kapital obtained the building permit for Phase 1, Pleiades Residence in Ploiesti, and will start construction by end of Spring

Prime Kapital, one of Central and Eastern Europe’s largest real estate developers, investors, and operators, has received the building permit for Pleiades Residence in Ploiesti which would be the first ‘car-free’ and green project in the city, and will start construction by end of Spring.

Pleiades Residence is the residential component consisting of 498 apartments and over 400 parking spaces in the multi-level exterior parking and is part of a larger urban regeneration project developed by Prime Kapital on the former “Uzina 1 Mai” platform and will have direct access to the recently completed Prahova Value Centre. The centre, which was opened in December 2021, will further expand with an exciting open-air food market and leisure offer including restaurants and cafes that will have direct openings and access to the large green areas that will be developed as part of Pleiades Residence landscape project.

“We are incredibly excited to start construction for Pleiades Residence after having received the building permit for Phase 1 of the project. We remain committed to providing high-quality housing at a reasonable cost. We are confident that with Pleiades Residence we will bring a new level of housing quality in Ploiești and we want to thank all those who have already placed trust in our project,” said Maggie Kitshoff, Residential Partner Prime Kapital.

The residential complex will offer 17 different varieties of units, from double studios to 2, 3, and 4-room apartments, as well as duplexes and penthouses. The completion date of the first phase is estimated to be by December 2023 with an overall project investment at a cost of over 30 million euros. The new urban hub is based on an innovative concept, that includes secondary services and functions in addition to the two primary components, retail and residential, to create a modern and lively urban community that will become a municipal landmark in the future.

Pleiades Residence has been developed to the highest standards of sustainability and energy efficiency nZEB (nearly Zero-Energy Building).

The Pleiades Residence complex will be the only one in Ploiești to benefit from a well-designed landscape project and includes plants and tree species that are robust and will give long-term benefits to the city. Pleiades Residence, designed by the ADNBA studio, has a total land area of 18,400 square meters, with almost 50% dedicated to car-free public green spaces.

Pleiades Residence and Prahova Value Centre are connected to the city through a network of streets and ramps that has already been developed by Prime Kapital, after an investment of 2.8 million euros. As such, the company created public traffic solution under the existing bridge, a ramp to connect the parking to the bridge, and a two-lane street with sidewalks, and bicycle lanes, that links Lupeni street, and Andrei Ioachimescu street to Semenicului street and then to Democrației street.