Romanian entrepreneurs Cristian and Teo Mercinoiu have bought a land plot near the Victoriei Square in central Bucharest, in a deal brokered by iO Partners.
The buyers plan to develop a residential boutique project with seven apartments that will meet nZEB standards.
The new building will use sheep wool as natural thermal insulation. The entrepreneurs will also invest around €30 million in a wool processing plant in Olt County that will act as a supplier for the new residential development.
“Our vision is to support the sustainable development of Bucharest by keeping the historical and architectural elements of the protected areas,” said Cristian Mercinoiu.
Flavius Pop, Senior Consultant Transaction Advisory at iO Partners, added that the project will support the sustainable development in this part of the city.
