Property group NEPI Rockcastle, the biggest owner of shopping centres in Romania, says it has started the construction of its first residential project in Bucharest.
The complex Vulcan Residence will comprise 256 apartments that will meet the new nZEB regulations. The company is investing €22 million in the project via its new division NEPI Residential and aims to deliver the apartments by Q3 2023.
“The future of residential projects is represented by places and spaces where people have access to all facilities that define a contemporary lifestyle,” said Iulian Rusu, Head of NEPI Residential.
The apartments will be located near Vulcan Value Centre, the shopping project that is part of NEPI Rockcastle’s portfolio.
Crosspoint Real Estate was named exclusive sales agent for Vulcan Residence.
After exiting the office sector in 2020, NEPI Rockcastle said it would focus on developing residential projects close to its shopping centres in Romania.