SPEEDWELL announced the signing of a €21.5 million financing agreement with Intesa Sanpaolo Bank Romania for the residential component of QUEENS District, the company’s mixed-use development located in Bucharest’s Aviației area.
The financing will support the development of the residential component of QUEENS District, which will include 237 premium apartments designed for both living and long-term investment. The project brings together residential, office, retail and publicly accessible amenities in an integrated urban ecosystem, created around connectivity, sustainability, comfort and everyday usability.
The transaction comes at an important moment for the Romanian residential market, shortly after the new regulations regarding the protection of buyers’ advance payments became operational. The new framework introduces a more structured approach to residential pre-sales, with stricter requirements regarding reservations, advance payments, cadastral procedures, and the use of funds received from future buyers.
“QUEENS District is a project designed with the type of discipline the market needs more than ever: a strong location, a clear mixed-use concept, solid technical standards, sustainable solutions and a development structure built around transparency and long-term value. The new legal framework reinforces principles that have always been part of the way SPEEDWELL develops: financial discipline, respect for clients, responsible management of resources and a clear commitment to delivery. From this perspective, this financing says as much about the project as it does about the developer behind it.” said Yannick van de Parre, Country Manager Romania at SPEEDWELL.
The agreement also reflects the role of institutional financing in a residential market where both developers and banks are recalibrating their financing structures and development models.
As advance payments from buyers are now subject to clearer restrictions and dedicated use, bank financing becomes an even more relevant indicator of project quality, developer credibility, and delivery capacity.
Commenting on the transaction, Denisa Guberna, Head of Corporate at Intesa Sanpaolo Bank Romania, said: “The financing granted to SPEEDWELL reflects Intesa Sanpaolo Bank Romania’s firm commitment to supporting the transition to a sustainable urban environment and to financing top-tier real estate developers who incorporate rigorous energy efficiency criteria and Excellent BREEAM standards into their projects. This strategic partnership demonstrates our bank’s ability to mobilise capital for complex developments that bring real, long-term value to the local community.”
Alongside the residential buildings, the project will include approximately 23,000 sqm of modern office space and around 2,500 sqm of retail and services, creating a balanced urban destination where living, working and everyday convenience support each other naturally. The office component has already attracted STRABAG as General Contractor and first anchor tenant, with the company set to relocate its Bucharest headquarters to QUEENS District under a long-term lease agreement.
“QUEENS District was designed as a project that works in real life, not only on paper. For residents, this means living in a premium apartment, in a connected area, with services, offices, green spaces and urban energy at their doorstep. For investors, it means a product supported by location, quality, sustainability, and a mixed-use ecosystem capable of preserving and increasing value over time. The financing signed with Intesa Sanpaolo Bank Romania adds another layer of confidence to this promise,” added Mădălina Arsene, Sales Director at SPEEDWELL
The first two residential buildings will include 147 apartments out of the total 237 units planned within the project. The development is conceived around landscaped green areas, pedestrian walkways, an inner courtyard, curated retail and services, creating a complete living environment where daily needs are integrated within walking distance.
QUEENS District is scheduled for delivery in Q1 2028.
