STC Partners gets permit for Bucharest resi project

04
Oct
2022
News - STC Partners gets permit for Bucharest resi project #Alin Popa #Bucharest #Crosspoint Real Estate #Romania #STC Partners

by Property Forum | Residential

Property developer STC Partners has obtained the building permit for both phases of the Quartier Azuga residential complex, along with the Green Homes pre-certification and will start construction works for the first phase this autumn. 


The development of the first phase will be completed in the first half of 2024, followed by the second phase in parallel, with a deadline for completion of the entire project in early 2025. 

“We estimate that the first phase will be sold out during the next year, considering the benefits of the project and the high interest shown by the customers," says Alin Popa, Business Development Director, Residential, at property consultancy Crosspoint Real Estate, the exclusive sales partner of the project. 

STC Partners has previously completed a boutique residential project in Bucharest.




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  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
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