The company Vista Project C&B SRL, controlled by Vista Development, owned by the businessman Florea Diaconu, the owner of the biggest construction company in Romania, the company Delta ACM, and by Alessio Karkhi,of a big scale residential project in Bucharest.
The real estate complex, named Vista Rezidential Concept, will be situated in southern Bucharest, behind Grand Arena mall and will include 1,000 apartments and approx. 100 commercial units.
"We chose the south of Bucharest for the project Vista Rezidential Berceni because I live here and I believe in this area, in its development potential and in its advantages, It is not the first real estate investment we made, but it is the most important, and we chose this moment because we felt the market was prepared for such a large scale project, which involves both an important financial investment and a good coordination of the entire team involved", has declared for Wall-Street.ro Florea Diaconu.
The project will include 24 buildings and will have four construction phases. The first 6 buildings, with 200 apartments will be completed in May 2014 and the entire complex will be delivered in December 2015. The first phase will imply EUR 10 million investment, while the entire project will reach EUR 40 million, said the developer’s officials. The constructor will be Delta ACM, one of the biggest construction companies.
The investment will be supported by own funds.
The project will also include a commercial mall of 4,000 sq m with 100 shops, gyms, beauty salons, educational and medical units, café, supermarkets and showrooms. (source: wall-street.ro)
