Property developer Interdraw, owned by entrepreneur Ulisse Gheduzzi, has obtained the building permit for a new residential complex in Bucharest that will be developed following an investment of more than €30 million.
The project Sungate Apartaments will include 248 apartments, 297 parking spaces and green areas spanning 2,500 sqm.
“Getting planning permission comes at a time when the stock of new homes has fallen locally, demand is still high, the New Home program continues and lending is more subdued than last year,” said Gheduzzi. At present, the developer is in advanced stages to obtain funding for the whole project.
The sales for the new complex will be managed by Concept One.
Interdraw’s portfolio includes civil and industrial construction as well as infrastructure and special investments.
