Tiriac Imobiliare expects mostly Romanian buyers for Stejarii

Stejarii residential project features apartments and penthouses to cover between 100 and 600 sqm each, with prices from EUR 350,000 to EUR 1.8 million. The soccer player was attracted by the sports facilities offered by the project, among other aspects. He will move into the new apartment in 2009.
The developers expect Romanian buyers to make up the bulk of the future residents in the project. So far, Tiriac Imobiliare has received offers from investment funds interested in buying into the project, but has decided to reject them and sell to individuals instead, according to its representatives, quoted by the media.
Tiriac Imobiliare representatives estimate that around 1,500 luxury apartments should be ready by the end of this year in Bucharest, most of them in the north of Bucharest. The price per sqm in luxury projects in Bucharest starts from EUR 2,200 per sqm. Stejarii residential club project will feature 535 apartments in four-storey buildings and will require a EUR 230 million investment.
Corina Saceanu