Asmita Gardens populates the Bucharest skyline by the Dambovita river
Asmita Gardens is the latest real estate development project to take advantage of yet another bare plot of land by the Dambovita river in Bucharest. When ready, Asmita Gardens will consist of a group of seven blocks of flats, right by the river side, near Calea Vacaresti, not far from the Euroclub project. Although it includes a total number of 788 flats and the blocks are rather tall for the Bucharest standard (16-24 stories; the average block in Bucharest is between 8-11story high), the project is not crowded, as it occupies a 27000sqm plot. This will impose a further effort from the constructors; the main reason why Bucharest has very few sky scrapers is the relatively sandy soil in the area, with a mesh of underground water flows.
The architects added the necessary infrastructure to the residential area; planning details of the Asmita Gardens include a bit of everything, from a supermarket and a small park to a kindergarten and a fitness centre, all accessible via secure gates. No worries about parking either; when finalised, the complex will include an 823-space car park.
The interest for the project began well before the construction actually started. As noted by Ziua Financiara back in October 2006, the Charlemagne UK consortium purchased a 50% share of the project. Alpha Bank was also involved in the 110million project to provide the necessary financial backing.
Being situated by the Dambovita river, property on this project does not come cheap. The average price of the apartments starts at around the €1200/sqm mark; the developer indicated from the start that the project targets the medium-luxury segment of the market. The website of the project will not help you with the pricing information; if you want to find out further details about Asmita Gardens, you will either have to go via the inquiry form or contact the sales agent, Colliers. One conclusion you can reach after browsing the website is that not many apartments are currently/still available. Out of the seven buildings, two are currently marketed; from these two, one was entirely sold already and less than half of the flats from the other building are still available.
What is the current status of the Asmita Gardens project? The construction is not advanced…to say the least. You can see for yourself (the picture was taken only two months ago) that work is still in the very early stages. Strabag, the construction company building the project, agreed with the owners that complex to deliver the blocks in two stages, due to finalise the development in 2009.
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Posted: March 25th, 2007 under Apartments, Property Development.
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