HANN Development, owned by Turkish businessperson Bahri Büyükhanlı in association with Emre Büyükhanlı, has recently received the building permit for a residential project in a locality near northern Bucharest.
The first development phase of HANN Harmony located in Ștefăneștii de Jos, which will consist exclusively of villas, will be developed based on an investment of €12 million.
The investment value for the entire project, which is scheduled to take place in three stages, is estimated at around €40 million euros.
Construction works for the first phase of the project will start at the beginning of next year, while the delivery date is set for the second half of 2024. The first phase will comprise 124 villas showcasing a modern and elegant architectural design, which will target buyers in the medium-up income category.
”At the moment, we believe that the current market demand is strong enough to rapidly and efortlessly absorb the first phase of the project,” said Emre Büyükhanlı, Partner & CEO of HANN Development
The housing units and the related facilities will occupy a 36,000 sqm plot of land, out of the 100,000 sqm allotted for the entire project, which is owned entirely by the developer. The exclusive agent of the project is Premier Estate Management.
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