by Property Forum | Residential

Point Development, the local subsidiary of the Israeli group Shikun & Binui, has successfully completed the LEED certification process for the second construction stage of its residential-scheme City Point, becoming the sixth project in Europe certified LEED-ND and the third certified as Gold. The whole process was coordinated by Colliers Romania.

 


Started in 2019, the extension works of the project involve an investment of €100 million and will be completed in 2023. Phase II will deliver over 400 units displayed over three buildings with a height regime GF + 12F, respectively GF + 18F, to which are added 500 parking spaces, more than 6,000 square meters of green spaces with pedestrian alleys and running track, multifunctional buildings that will accommodate SPA facilities, a gym, and commercial spaces right inside the complex, but also an open space for co-working (co-working outdoors).

„The residential segment proved to be extremely resilient, and this was also reflected in the high occupancy rate we achieved in this new expansion phase - approximately 70% of the total number of units available in the first building of phase II have already been contracted. We are also advancing at a fast pace with the construction works and we are preparing to complete this year the first 107 units", stated Favi Stelian, Managing Director Point Development.

In Romania, Point Development signs developments such as City Point (Aviaței), New Point (Pipera), and Green Point (Basarabia Area), and currently manages a construction portfolio of over 3000 properties.