Romanian developer Astorium Construct Investment has secured a €7.5 million financing facility from tbi bank to support the second phase of the Astorium Life residential project in Bucharest.
The project has an estimated total value of over €70 million and will comprise six blocks with approximately 640 apartments, of which the first two blocks, totalling 242 apartments, have already been completed.
The financing will support the next four blocks, which include around 400 apartments and have already reached a sales or pre-sales rate of approximately 65%. These four blocks serve as the bank's collateral and as the source of repayment. Construction costs amount to approximately €28.15 million, of which €11.65 million has already been invested from the developer's own funds and advances. The remaining €16.5 million will be covered through the €7.5 million from tbi bank and approximately €9 million from the developer's own sources.
The Astorium Life project sits on a plot of approximately 20,000 sqm in one of eastern Bucharest's fastest-growing areas. "Astorium Life is a project through which we continue to develop modern homes in the Pallady area. The financing provided by tbi bank supports us in continuing the second phase and confirms confidence in our development model", said Ulas Dilmac, CEO, Astorium.
Astorium Construct Investment recorded total revenues of around €24 million in 2025.
