The real estate developer STC Partners is delivering the Quartier Azuga project, a residential complex that has been sold at a rate of nearly 90%.

The second phase of the project has already received the completion certificate and is currently in the process of delivering residential units, while the first-phase community moved into their new homes at the end of 2024. The development and construction of the Quartier Azuga project began at the end of 2022, with approximately 10% of the total 236 new apartments still available.

“We are in the process of fully delivering our Quartier Azuga residential complex and are very proud of how the entire project has turned out. Although we experienced delays compared to the initial delivery timeline, both our plans and those of our clients were adapted along the way, in the context of the additional floor authorization process, which caused several months of delay, as well as unfavorable weather conditions during autumn and winter,” stated Roxana Steiner, Partner & COO of STC Partners.

“This new community, together with the delivery of the Quartier Azuga project, brings significant added value to the Dna Ghica-Colentina-Tei area. We are very pleased to have contributed to this through the development of a sustainable and durable project, whose initial estimated investment exceeded EUR 20 million by more than EUR 5 million,” stated Adi Steiner, Partner & CEO of STC Partners.

Upon full delivery of the second phase, the developer will also repay the bank financing obtained from Banca Transilvania, amounting to EUR 10 million, which supported the development of this final phase of the Quartier Azuga project.

One United Properties is starting construction on a new luxury residential complex, estimated at EUR 135 million, on a plot of land located between Lake Floreasca and Lake Tei in the capital. The project, One Floreasca Sunset, will include 221 apartments, a minimum of 30% green spaces, complementary mixed-use functions and a sports area for residents. Completion is estimated for 2028.

The new 14-story complex will be developed on a 9,045 sqm plot of land, located on Str. Barbu Văcărescu no. 241–273.

The company continues the series of developments built in northern Bucharest under the One Floreasca banner, which includes One Floreasca Lake, completed in 2013 – 2015, One Floreasca City, the mixed-use complex built on the former Automatica platform and completed in 2021, and One Floreasca Towers, with estimated completion in 2026.

Smartown, the group through which Israeli billionaire Teddy Sagi carries out his real estate investments in Romania, is selling all the office buildings it owns locally, and the Swan Office project in Pipera, wants to be transformed into a complex with apartments, a school, medical facilities and an aparthotel.

Smartown Investments is already working on an urban project that provides for the transformation of the 3 buildings in the Swan Office & Technology Park complex, in the context in which the rental rate of the commercial property is low. The 3 office buildings in Swan have a total leasable area of ​​24,440 square meters, plus 4,684 square meters of retail space.

Recently, the owner of the complex announced that Mercedes-Benz Romania, Maserati, Chery, Daimler Truck & Bus and a global electric vehicle manufacturer have established their offices and showrooms in Swan Office & Technology Park, occupying a total leasable area of ​​9,000 square meters. Previously, eMag and Altex also had their headquarters in Swan, but they have moved.

Teddy Sagi bought Swan in 2016 for EUR 30.3 million.

Source: Profit.ro

Real estate developer One United Properties has acquired a plot of land measuring approximately 9,045 sq m on Barbu Văcărescu Street in Bucharest, on which it intends to build the One Floreasca Sunset residential complex, with a gross development value (GDV) of EUR 135 million.

The land was purchased from Sunset Lake Investiții SRL, managed by Lucian Tutunică. One United Properties did not publicly disclose the price paid for the land on Barbu Văcărescu.

The new One Floreasca Sunset project will include a two-story building with a total built-up area of ​​29,138 sq m. The residential component includes 221 residential units. The lower levels will include commercial spaces (1,172 sqm), offices (981 sqm) and administrative spaces (156 sqm), as well as a sports area for residents. The parking lot provides 361 spaces.

“One Floreasca Sunset is part of our strategy to invest in land with an exceptional positioning, in mature urban areas, where demand is supported by solid economic fundamentals and an already functional infrastructure. The Floreasca neighborhood probably remains one of the most desired exclusive residential addresses, one of the most stable market segments in Bucharest,” said Victor Căpitanu, co-founder and co-CEO of One United Properties.