Prima Development Group to develop 2,000 apartment complex in Bucharest

Prima Development Group signed the purchase of a plot of land with an area of over 6 hectares located on Gheorghe Ionescu Siseşti Road in Bucharest, from the Austrian real estate developer Immofinanz.

The company also owns a 5-hectare plot of land in the same location and intends to build a residential complex with over 2,000 apartments and direct access to Griviţa lake on these two plots. The development value for the project amounts to EUR 260 million.

"It is a project with a very low energy requirement, with minimal impact on the environment and advantages in terms of maintenance costs. The apartments are designed to provide comfort and represent a smart long-term investment. We estimate that we will start the construction of the project in 2025," says Adrian Stoichină, co-CEO of Prima Development Group.

The developer intends to organize an architectural competition for the concept and design of the complex, which will be called Alizee by the Lake Prima Development Group.