Akcent Development, an investment vehicle controlled by local businessman Alin Niculae, announced a new residential real estate project of EUR 75 mln.

Niculae owns the largest independent petroleum products trader, and, separately, he has developed residential projects comprising over 7,500 apartments in total, according to Economica.net.

The new project, Akcent City, will be built in the Bucureștii Noi area of District 1 (north Bucharest), where the company owns a 20,000 square metres plot of land. The new ten-storey building will include 810 apartments.

“The EUR 75 mln investment is only part of the plans we have in the near future. We believe in the Bucurestii Noi area that is emerging as a new pole of real estate development with mixed functionalities: residential, offices, retail,” stated Laurenţiu Afrasine, CEO of Akcent Development.

andrei@romania-insider.com

(Photo source: the company)