Property company Point Development says it will deliver 107 apartments in its resi scheme City Point in the first half of 2022.
The developer has already sold over 90% for the 355 apartments available in phase II of the project located in norther Bucharest. More than two thirds of the demand came from IT professionals. The expansion of City Point is scheduled to continue in the future with a third phase that will complete the present development with three additional residential buildings.
“Based on the positive feedback and the favorable results obtained in each sale phase, two years ago we decided to expand the project with three additional buildings where we have already sold more than 300 units,” said Roxana Gherghe, Chief Financial Officer Point Development.
The expansion project started in 2019 and is based on an investment budget of €100 million. Aside from the new apartments, the developer will add more than 6,000 sqm of green spaces and other residential facilities.
Point Development, part of Israeli group Shikun & Binu, has a construction portfolio of more than 3,000 properties in Bucharest.
