Regatta finds investors for 50m-euro project

Real estate company Regatta announced on Monday that it had found a number of investors willing to allocate some 50 million euros to the development of a residential complex of 180 houses in the northern area of Bucharest. This is the first undertaking of this kind for the investors. The complex will contain four different types of 3-storey houses (ground floor, first floor and attic). The largest house-type will have a total surface area of 371 square metres and sell for 225,000 euros, while the smallest will have 140 square metres and sell for 93,000 euros. “The complex will provide integrated services, such as a kindergarten and shopping complex. It will also have four swimming pools, three sports grounds and four children”s playgrounds,” said Sorin Lacusta, a senior real estate broker with Regatta”s Residential Sales department. Construction works began recently and are due for completion in 2006. In terms of total investment value, the development, which is located between Soseaua Pipera-Tunari and the Mobexpert store in the same area, is the largest such project ever undertaken on the Romanian market. ZF