Cordia Romania, the residential investment division of Spanish property developer Futureal Group, announced that it has a 50 million euros ($56.9 million) investment plan next year on the local market, part of a long-term development roadmap.
Cordia Romania aims to deliver about 500 apartments per year on the Bucharest residential market, designed for the medium and medium-high segments. Cordia Romania is investing another $1.6 billion in new projects, amounting to a portfolio of $3.1 billion of developments and assets.
Parcului20, which marks the implementation of Cordia’s nee local investment plan, is to be built in two phases of development. The project includes 579 parking spaces, bicycle parking and over 80 storage units.
The first phase of the project consists of 260 units and it will begin by the end of this year, to be delivered in September 2020. The second phase is to be delivered 8 to 12 months after the completion of the first phase.