Spanish developer Hercesa has obtained a loan worth 33 million lei (€6.6 million) from Libra Internet Bank for the construction of a new residential project in western Bucharest.
The loan will be used to finance Stellaris Residencias, which will include over 4,500 apartments following an investment of €59 million. The first phase comprising 482 apartments will be delivered in Q4 2024.
Hercesa will also boost the road access infrastructure in the location of the project as well as the utilities component.
Until now, the developer and the bank have closed 12 loan deals that have financed the construction of more than 1,000 homes.
