Property in Romania

Neocity develops upscale residential project in Bucharest

Neocity Group will invest 300 million euros in a residential project located in the east side of Bucharest.
The project is called NeoPeninsula and will be located near the Colentina River and Fundeni Lake. The project will comprise 26 blocks of flats 14 to 24 stories high and 2,700 living spaces each with one, two, three, or four rooms.

The project is developed on a 140,000 square meter area and will have 50,000 square meters of parks and playgrounds, parking lots and a commercial area.

The real estate project will also have a private beach, soccer field, tennis and basketball courts, a swimming pool, restaurants, an aquatic club and a kindergarten.

Construction on the site will begin in November this year and the first two blocks of flats should be finalized within 18 months.

Date posted: July 3, 2006