Romanian property company Grand Development, founded by Ionuț Nicolescu, is investing over €12 million in the development of Montebello Transylvania Resort, a project comprising 47 chalet-style villas near Brasov. The first phase of the development is slated for completion in November 2023.
The development site previously hosted a brick factory that had been out of use for close to three decades.
“Brasov’s development potential is huge, and the opening of the International Airport will bring a significant boost on all economic levels, including the tourist one – only two charter flights can occupy the entire five-star hotel capacity in Brasov. We thus decided to develop not only a project that would satisfy the wishes of a buyer of a premium holiday home, but also a product that would offer a high investment return,” said Nicolescu.
The villas will have premium amenities such as gazebo, jacuzzi, private landscaped gardens and two private parking spaces.
Nicolescu has extensive experience in the property market and he recently exited SVN Romania and Meta Estate Trust, two companies he co-founded.
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