Raiffeisen Bank Romania has agreed to provide a €30 million loan to KÉSZ Csoport to finance its Corallis Apartments residential development in Bucharest. The financing complements equity already committed by the group as well as buyer advance payments, which together have supported the project's progress to date.
The development has also achieved notable sales momentum, with more than half of its 221 apartments already sold. Construction work is continuing in parallel.
"Delivering a development of this scale requires coordinated financial, development and construction work. The financing from Raiffeisen Bank Romania is an important complement to our own funds invested in the project, and contributes to the realisation of a residential complex in which quality construction, green spaces and a comfortable living environment all play an important role," said Tatár Zsolt, project director at KÉSZ Csoport.
The project is being delivered entirely as an in-house investment through the cooperation of the group's member companies. KÉSZ Ingatlan acts as developer, while KÉSZ Romania, which this year marks its 25th anniversary, serves as general contractor.
The residential complex comprises 221 homes across five buildings. Residents will have access to more than 6,000 sqm of landscaped green space, a lakeside promenade, and sports and leisure facilities. The development is targeting BREEAM Excellent certification.
