Hercesa Romania has 1,000 apartments under construction and in preparation in two residential projects based in Bucharest.
Recently, the company has announced the start of the construction for the second building in the Stellaris Residencias project, featuring 125 apartments. At the same time, development is underway for a new apartment block in Vivenda Residencias.
”Most of the demand still comes for two-room apartments, the only ones in our mix that fall within the 9% VAT ceiling,” said Romeo Ghica, Operations Manager at Hercesa Romania, referring to the sales in Stellaris Residencias.
Stellaris Residencias is the second large-scale residential project developed by Hercesa Romania in Bucharest after Vivenda Residencias and will include 4,500 apartments. The first phase has a planned investment worth €59 million. It will be developed in four stages and will comprise 482 apartments.
Hercesa has been present on the Romanian market since 2004 and has since delivered 1,000 apartments in the Vivenda Residencias project. The company also reopened the Cișmigiu Hotel in central Bucharest back in 2012, a project which is still part of its portfolio.
