Opus Land, one of the most important real estate developers active on the local market, will increase to €29 million its annual investment in the development of Cosmopolis, the largest residential project in Romania after the number of existing facilities. The amount is about one third higher compared to the investment undertaken in 2020.
Approximately 500 new homes will be added in 2021 to the already 4,100 residential units already delivered within Cosmopolis. Approximately half of the new units will be represented by villas, the project thus quickly adapting to the new trends in the residential market.
Moreover, the development of the general infrastructure of the project will further continue in 2021 through new facilities and the extension of the already existing ones. The most important will be represented by the extension of the strip mall existing in the project. Thus, the strip mall will more than triple its leasable surface, to 14,000 sqm, similar to the one of a small shopping centre.
The extension of the strip mall, the first of its kind opened in a residential project from Romania, will allow the addition of new stores and functions to existing ones, which currently include a supermarket, several cafes, restaurants, pubs, fast food, confectioneries, bakery, service spaces, traditional product stores, veterinary clinic and several beauty salons.
The road infrastructure of the project, which already has tens of kilometres, will continue to expand in 2021 and the building where the state primary school will operate has already been completed and handed over to the authorities. Also, new green areas will be created, and at least 12 new pools will be constructed, which will be added to the 35 already existing within Cosmopolis.
”2020 was a good year for Cosmopolis, despite the general context. We adapted very quickly, which allowed us to register similar results compared with the ones from previous years. This is an exceptional result taking into account the two months of national lockdown. All this period showed us how important our homes are but also the residential project and the general community and the results registered in Cosmopolis in the last years give us confidence that we are doing a good job,” said Gabriel Voicu, vice-president of SVN Romania and project manager for Cosmopolis on behalf of the company. SVN Romania is the real estate consultant and the exclusive agent of the residential project.
488 new transactions were closed in Cosmopolis last year, the objective for 2021 being of approximately 500 new transactions. The prices in the project start from €51,500 + VAT for a double studio (56 square meters constructed area) and from €99,400 + VAT for villas (GF + 1, 99 sqm constructed area).
Additional to the strip mall, among the facilities existing at this time in Cosmopolis are two kindergartens, two parks, a private beach near the neighbouring lake, 35 outdoor polls, numerous playgrounds, restaurants and cafes and a fully equipped gym, inaugurated in 2019,
The community in Cosmopolis has over 11,000 inhabitants and is estimated to reach over 13,000 people by the end of 2021. The development of the project is carried out according to a carefully planned long-term vision, being expected to continue until at least 2033, when Cosmopolis is estimated to include over 12,000 homes and a community of around 30,000 inhabitants – similar to the populations of cities like Campina, Campulung Muscel or Sighisoara.
The total investment undertaken in Cosmopolis up to this moment exceeds €350 million, being one of the biggest in the local real estate market, regardless of the market segment.
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