Romanian company Rock Development has started the construction of the second phase of Avrig Park Residence in Bucharest with an investment budget of €23 million. 

Pedro Construct, one of the largest construction companies in Romania, led by businessman Petre Niculae, is developing - together with his associate Florin Ababe - a new residential assembly in the north of the capital, Jolie Village. The investment in the project is estimated at €21 million and for €12 million, the company has obtained financing through Libra Bank.

Another residential project worth more than a billion crowns (€41 million) is being completed in Prague. This time PSN is building 150 luxury lofts in the former Microna aerospace factory in Prague's Modřany district. The Vanguard project is expected to be completed next year, PSN CEO Max Skala said.

The area of former factories and industrial halls in Prague 9 will be transformed into a modern urban district. Skanska is now planning to invest more than CZK 1 billion (€41 million) in the Alfred apartment building there. The building, which is part of the second phase of the construction of the district of industrialist Emil Kolben, is expected to be completed in 2025, reports E15.cz.

YIT has approved the residential project Parvi Cibulka, which was created by revitalising a former factory in Prague 5 into loft-type housing. Only less than a third of the 150 units are left to be purchased. The building also includes nine non-residential premises.

The Plzeň-based development group BC Real has started construction of 1,500 flats on a brownfield site in the former paper mill near the Radbuza River in Plzeň. It is the largest private residential project since 1989, the ČTK reported.

The industrial area of the former Aritma industrial building in Prague's Vokovice will be replaced by a residential district with park areas. After several years of negotiations, the Prague 6 municipal district, representatives of the local residents and the investor, Crestyl, have agreed on this. In addition to the construction of new villas and family houses, the agreement includes extensive compensation for local residents, announced Jakub Stárek, the mayor of the district.

The latest plans of YIT include residential construction outside of Prague. The company plans to gradually build 800 apartments on the outskirts of Kladno within 12 years, e15.cz reports.

Mega Mall, the shopping centre in Bucharest owned by NEPI Rockcastle, will be expanded with new stores and a residential component that will include around 180 apartments. 

Most of the crown that constitutes the architectural and compositional peak of the Eurovea Tower residential development by JTRE has reached its final height of 168 metres. Only the crown, the façade on the upper five floors and the residential interiors remain to be completed in Slovakia’s tallest building. The entire project is planned to be finished next summer.