Gran Via builds 3500 new flats in Drumul Taberei, Bucharest
The Spanish property developer Gran Via makes its entrance on the Romanian market with two residential projects. As the projects are in the design stage at the moment, they share two characteristics so far: they are big (get ready for big figures on the next paragraph) and…they do not have a name yet :).
Both projects will be built in Bucharest, in the Drumul Taberei area. . The developer found two ‘bargains’ – two plots of land that used to belong to the Frigocom and Tricodava factories. The Tricodava plot, stretching over 54000 sqm, was bought for a ‘mere’ €42 millions (€777/sqm) and will host 2100 flats. The construction will start only in March 2008 and is estimated to cost a total of €185 millions. A bit cheaper, the Frigocom land has almost 32000sqm and was bought for €17.5 millions; however, the developers will have first to demolish the factory buildings…which are still standing at the moment. The Frigocom project will include 1400 apartments and will cost €110 millions.
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Posted: June 30th, 2007 under Apartments, Property Development.
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