Victor Terheș, Sales Director at Bellemonde, talked to Property Forum about the status of its €40 million residential investment in northern Bucharest and the growing demand for homes in this area in the long term.
What is the development status for Bellemonde residential complex in Pipera? What has the demand for villas and apartments been to date?
With Bellemonde we made significant progress in 2024, marking a decisive phase in the project's implementation. Construction work officially began in September 2024, following the issuance of the building permit by the Voluntari City Hall in June 2024. The permit covers the development of 164 housing units. As of now, excavation and foundation work for all buildings have been completed, and vertical structural elements for the first floor have been poured and reinforced for many of them. We anticipate completing the structural and masonry work by the end of May 2025.
Bellemonde has experienced strong demand since its launch, with over 50% of its 93 villas and 30% of its 71 apartments in Pipera already sold. This underscores the strong interest and confidence from buyers, highlighting the project's appeal and alignment with market demands for high-quality residential offerings.
What are the expectations of clients from projects like the one developed by Bellemonde?
If we are looking to describe Bellemonde client profile, they typically expect a blend of sophistication, variety, and convenience. They seek diverse housing options that cater to different lifestyles and preferences and this is why we offer a mix of standalone houses, duplexes, townhouses, and apartments with multiple-room configurations. Flexibility in pricing to accommodate various budgets is also a key expectation. This is why we have a flexible payment plan in order to meet the evolving needs of our clients.
Additionally, clients prioritize prime locations that offer both tranquillity and easy access to urban conveniences. This is why we chose Pipera as the location for the project, to satisfy these expectations by ensuring proximity to Bucharest,and access to top-rated schools, shopping centres, and recreational facilities, creating an ideal balance between privacy and urban comfort.
Moreover, Bellemonde offers a complete living experience, thanks to its generous common areas and a limited number of residences and the Society Hub, the heart of Bellemonde, a vibrant community center designed to enhance time spent at home.
How much are you investing in the project and how are you funding the construction?
Bellemonde is being developed on a vast 41,000 sqm site, representing a significant investment exceeding €40 million. This investment highlights our commitment to delivering a high-quality project that addresses the evolving demands of the market. To finance the construction, we have secured €21 million in support from Libra Internet, a key partner in ensuring the timely and efficient execution of the project.
This strong financial foundation enables us to create a premium residential environment that combines exceptional living spaces with an outstanding community experience.
When do you expect to deliver all the homes in the complex?
The estimated timeline for the completion of the Bellemonde project is 24 months. During this period, our objective is to develop the entire construction in a single phase, ensuring that every aspect meets the highest standards of quality, precision, and craftsmanship. We are committed to following this timeline while maintaining our focus on excellence in every aspect of the project, from design and materials to the final touches.
How are you integrating the facilities mix in the Bellemonde project?
Bellemonde is thoughtfully designed to offer a comprehensive living experience through its diverse and well-integrated facilities. At the heart of the development lies the Society Hub, which features a variety of amenities, including a lounge area with massage zones and saunas, co-working spaces for professional and social activities, dedicated spaces for children’s activities, and an outdoor pool.
Bellemonde stands out not only for its premium amenities but also for its integrated technologies and sustainable features, such as cutting-edge heat pumps and ventilated facades, which contribute to creating a harmonious and energy-efficient living environment.
The development also includes electrified parking spaces, aluminium joinery, and premium finishes that complement the architectural design and enhance the overall aesthetic appeal. In addition, Bellemonde places a strong emphasis on sustainability by promoting biodiversity and fostering a healthier living environment for its residents, with 33% of the complex's area dedicated to green spaces and leisure activities.
What is your outlook for residential demand in the northern part of Bucharest?
We remain confident in the continued demand for residential properties in the northern part of Bucharest. This area is highly sought-after due to its balance of tranquillity and proximity to the city centre, along with access to top schools, shopping, and recreational facilities. It also benefits from business hubs and high-end infrastructure, making it ideal for both families and professionals. Given these advantages, we expect strong demand for premium developments like Bellemonde, which combines convenience and community lifestyle.
What are your investment plans in the Romanian market in the medium and long term?
In the medium and long term, our objectives in the Romanian market focus on solidifying Bellemonde's position as a leader in the premium residential segment and expanding our portfolio of high-quality projects aimed at a discerning clientele that values refinement, comfort, and elegance. These goals will not only support the growth of the Bellemonde project but also contribute actively to the development of the local real estate market
