4m-euro real estate project for Pipera

A group of individual investors is to build a 17-house residential complex close to the Pipera Lake on an area of 8,000 sqm. The total project will be worth about 4 million euros, stated Ioana Vochitu, the investor representative. Construction began in March this year and is due for completion in April 2005. The complex will have three house types at prices ranging from 160,000 euros to 250,000 euros. The complex will also include a main driveway, a club, a swimming pool, and green areas. The water supply will come from a 200 metre deep well, which will be equipped with its own purifying station. An increasing number of projects for residential complex have recently been announced, mostly focusing on the north of Bucharest. ZF