The total value of the transaction is of EUR 20,645,100 (part of the price will be paid at the building permit issue and the execution of the final exchange agreement, with the remaining portion of the price being settled by transferring the ownership over a number of apartments and corresponding parking spaces, upon the completion of the project to be developed on the property). An urbanism certificate for construction has already been issued for the relevant plot, allowing the development of a real estate project with a built area (superstructure) of approximately 95,000 sq. m.
The company intends to develop on the recently acquired land a new real estate project, One High District, which will include both residential units and commercial spaces, as well as facilities such as gym, swimming pool, restaurants, grocery store, coffee shops, green areas for relaxation. Located in the 2nd District, on Șoseaua Fabrica de Glucoză, right next to the A3 motorway, the land offers quick access to Floreasca district, Promenada mall, as well as to other points of interest in the city.
The transaction represents another milestone within the Group’s strategy of investing in sustainable premium development opportunities in exclusive areas of Bucharest.