STC Partners will start a new residential project in Bucharest after completing the acquisition of a land plot for €7.2 million.

STC Partners has obtained a bank loan of €10 million from Banca Transilvania for the construction of the second phase of its Quartier Azuga residential project in Bucharest.

STC Partners has kicked off the development of the second phase of residential complex Quartier Azuga in Bucharest, with a planned investment of more than €15 million.

The residential market has a positive outlook this year, over favourable macroeconomic conditions and higher demand levels, especially expected to realise in H2 2024, according to a report by residential developer STC Partners.

Adi Steiner, Managing Partner of STC Partners spoke to Property Forum about the developer’s new residential project in Bucharest and new investment opportunities being explored nationwide, as well as the increasingly sophisticated requirements of home buyers, with a focus on sustainability.

Romania has one of the lowest volumes of housing loans as a share of GDP, being for instance six times lower than Poland in absolute terms, according to a study published by Romanian developer STC Partners. 

Romanian developer STC Partners has secured bank financing from Banca Transilvania for the first phase of Quartier Azuga residential project in Bucharest worth €6 million. 

Romanian developer STC Partners has started the construction of the first phase of the Quartier Azuga residential complex in Bucharest. 

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. 

STC Partners will invest more than €20 million in a new residential complex comprising over 200 apartments in Bucharest. The first development phase of Quartier Azuga will kick off in October 2022 and is slated for delivery in the first semester of 2024, while the entire project should be completed in early 2025. Crosspoint Real Estate has been appointed exclusive sales agent.