Alsin Management, the developer of First Estates Pipera - the first residential project in Romania offering free heating to its residents, announced a new development in Pipera, in northern Bucharest. 

The company said it would soon start the construction of First Estates Villas, a premium project with 20 villas and a market value of EUR 9 million. The new development will also use advanced technological heating and cooling systems, resulting in low maintenance costs.

First Estates Pipera comprises 464 double studios and apartments with two, three, and four rooms, following an overall investment of over EUR 40 million. The first phase, with 232 apartments, is in an advanced development stage and will be delivered in April 2024, while the second phase will be delivered in February 2025.

Alsin Management said it exceeded the 75% sales threshold in First Estates Pipera.

“Thoroughly planned projects, which really invest in innovation and differentiating technological solutions, which use 100% renewable energy, are very few on the market, and that is why we are rewarded with excellent results. Future residents will probably have the lowest maintenance costs on the local market, while the investor will obtain higher returns. All these technological systems will also be implemented in the development of First Estates Villas, and they will lead to an expense reduction towards zero, but also to a reduced impact on the environment,” said Andrei Sarbu, CEO of SVN Romania, the real estate consultant and exclusive agent of the two projects.

irina.marica@romania-insider.com

(Photo source: SVN)