News Article Andrei Sârbu Bucharest Cosmin Savu-Cristescu Petrom City Redport Group residential Romania
by Property Forum | Investment

Residential developer Redport Capital has purchased a land plot of 10,800 sqm and warehouses covering 4,700 sqm near a project that the company is currently developing in the Petrom City area in northern Bucharest.

The assets were purchased from transport and logistics firm HAVI Logistics in a deal worth €3.2 million. 

”We are continuing our investments in an area that we practically bet on first, in 2017, by starting the first phase of The Level Apartments. We thus acquired a new property which will strengthen the position of the Redport group on the market, providing us with new opportunities for long–term developments, through which we will ensure solid returns for our partners and investors. We believe in the potential of the local residential market, and we will continue to focus on the customers’ needs and constantly bring innovation into our projects,” said Cosmin Savu-Cristescu, Managing Director and majority shareholder of Redport group. 

The buyer was assisted by real estate consultancy SVN Romania and law firm Popovici Nițu Stoica & Asociații. The seller worked with real estate consultancy Colliers International and law firm Mușat & Asociații. 

”This is our fourth significant transaction in Străulești – Petrom City area, which will become one of the main poles of real estate development in Bucharest, with numerous prestigious projects announced. Over 5,000 new residential units could be developed in the area and Redport Capital has already taken a serious option on becoming one of the main companies that will regenerate this vast area of Bucharest” stated Andrei Sârbu, CEO of SVN Romania. 

Redport group was founded in 2016 and delivered The Level Apartments I and The Level Apartments. It recently acquired a plot of over 4,000 sqm in the same area as The Level Apartments.