Afik Group to build 2,300-apartment complex

Israeli real estate developer Afik Group, also present on the Turkish and Cypriot markets, has started works on its first local project, in the Drumul Taberei district of Bucharest, where it intends to develop a 2,300-home residential complex, called Infinity Residence. “The first two blocks, comprising of 456 apartments, will be completed in the spring of 2010. Currently, the foundation is being laid for the first phase of the project, while sales started a month ago. The project is financed via a loan from UniCredit Tiriac Bank,” said Adriana Cioara, consultant with Premium Imobiliare, the project’s agent. The local subsidiary of the Israeli company is called Tehnogrup, and the project conducted on a 4.5-hectare plot on Timisoara Boulevard, close to Brancusi park.