Washington Residence, 95% take-up

Washington Residence complex developed by Sirius International has reached 95% occupancy rate, with most of the 93 flats already sold, Eurisko real estate company announced. Eurisko brokered approximately 50% of the total contracts for the purchase of flats and said most of the flats had not been bought for speculation purposes. “There were some investors, as well, that bought one to two flats each in this building, in order to rent them,” said Ionut Bordei, the head of the residential space sales department of Eurisko. The developer of the Washington Residence project was also involved in the City Mall commercial project announcing 20 million euro investments. The City Mall project was eventually developed by Jaguar Development, another company operating on the local real estate market, with the investments in it put at 30 million euros. Washington Residence is located close to Piata Victoriei and Calea Dorobanti, one of the main shopping locations in Bucharest. The complex is being developed on an 11,000 square metre plot of land, where ten four-story and one three-story blocks of flats are slated for construction. Works on Washington Residence began in March last year to be completed in three stages. ZF