First phase of Cordia Romania's Parcului20 scheme 30% sold

Cordia Romania, Futureal Group's residential development division, has sold 30 percent of the first phase of Parcului20, a residential project the company is developing in the northern Bucharest neighborhood of Expozitiei. The first phase of this €40m project requires an investment of €24m. "Our strategy, when we enter a new market, is to start with the residential, through our specialized division, Cordia," said Tibor Tatár, a member of Futureal's Board of Directors. "We have done this in Romania, through the Parcului20 project and by acquiring four more plots of land in northern Bucharest, on which we will develop residential projects."