SunLake Residence Developer has Started Work on Phase II of the Residential Complex

Aurel Dragan 19/05/2023 | 14:35

Park Properties, the developer of SunLake Residence project in Bucharest, located on the shores of Lake Fundeni, has started work on the second phase of the residential complex, namely the 12-storey Building B.


Due to an unexpectedly high rate of interest in SunLake, more than 90% of the apartments in Building A were sold in less than a year from the start of construction, so the developer has decided to start construction of Building B, the second of three buildings in the complex, which will be the size of the entire residential complex when completed.

„We have been very impressed with the very good sales pace, and at the moment we only have a few more duplex penthouse apartments available in Building A, with lake views, and only a few two-bedroom apartments. One of the distinguishing features of the SunLake Residence complex is the fact that due to its location, on a peninsula surrounded by lakes, almost all apartments in the buldings have views of the surrounding lakes”, Bogdan Guțu, Sales Director at SunLake stated.

With a total surface area, upon completion, of around 40,000 sqm and a market value exceeding 40 million euros, SunLake is one of the most ambitious residential projects in Bucharest, an architectural landmark with generous terraces and spacious lobbies, surrounded by lakes, a green, quiet area with numerous leisure spaces – parks and playgrounds for children. The project was launched in March 2022. The SunLake Residence complex consists of two 12-storey building and one 17-storey building, respectively 308 apartments and over 350 parking spaces.

Average down payment received, more than 80% of the apartment price: Building A sales exceeded EUR 5 million

Due to its excellent location and an attractive offer for both end buyers and investors, the average down payment received for apartments sold in Building A during the construction phase exceeded 80% of the apartment price.

Almost all buyers with equity preferred to obtain a preferential price during the construction phase and to pay for the apartments in full or in several instalments during construction. I think it is very rare in the real estate market in the capital that we see such a high level of down payments in relation to the final price of the apartments. In a competitive market, it is important to maintain a constant monthly sales rate and to meet buyers and investors with attractive offers for the purchase of residential properties”, Alexandru Mănăilă, Managing Partner SunLake added.

In fact, just one year after the construction of the first 12-storey building began, the SunLake Residence developer has already received more than €5 million in advance payments from apartment buyers.

Building B of the SunLake residential complex will have a structure similar to that of Building A, of B + Gf + 12S and, on completion, will have a total of 70 apartments.

Building A, almost fully completed 

Building A has already reached an advanced stage, with works on the facades and final interior finishes. The compartments, heating system, electrical installations and floor screeds have been completed. The transformer substation has also been installed and the electrical, water and sewage connections have been completed. The road (5 streets within the complex) and pedestrian infrastructure and green spaces, including the private lakeside park and associated promenade, are to be completed.

At Building B, the foundations and the raft have already been completed and the building’s resistance structure will be completed by the end of the year.

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