Saturday, 16 May 2026
West Group has announced the rebranding of the iResidence residential scheme in northern Bucharest as KronenPark Residences, following the full acquisition of the project and its integration into the group’s wider Kronen-branded portfolio.
The developer said the move forms part of a broader long-term strategy aimed at consolidating its residential platform across Romania and Germany. The group is currently developing four residential projects, including schemes in Pipera, Cotroceni and Sinaia, alongside a residential development in Offenbach, near Frankfurt, where the company also operates a subsidiary. West Group said it is targeting consolidated turnover of approximately EUR 75 million in 2026.
Dan Crăciunescu, founder of West Group, said the rebranding reflects a focus on creating a replicable residential product with consistent technical standards, services and brand identity across future developments.
The announcement comes amid continued growth in Bucharest’s residential market, particularly in the northern districts of the city, where developers remain active despite increasing competition and rising construction costs. According to market data cited by the company, prices for new apartments in Bucharest increased by 24% over the past year, while more than 20,500 new homes are expected to be delivered in Bucharest and surrounding areas in 2026.
KronenPark Residences is being developed on a 23,000 sqm site in the Pipera–North Bucharest area and will comprise 547 apartments across eight buildings. The development includes 57 apartment layouts, ranging from studios to penthouses and units with private gardens.
According to the developer, the first phase of the project, comprising 273 apartments, has reached a 45% reservation rate. The company noted that reservations increased by five percentage points over the past three weeks as construction works progressed.
West Group stated that the structural works have been completed and that façade installation is scheduled to begin on 18 May 2026. Interior partitioning and technical installations are also ongoing.
The project is planned to include smart-home infrastructure, a building management system, underground parking, EV charging stations, bicycle parking and concierge-related services. A 15,000 sqm landscaped park with sports and leisure facilities is also planned as part of the scheme.
