Romanian real estate company Alsin Management completed the first phase of First Estates Pipera, the first residential project in Romania offering free heating to its residents. The second phase, which requires an investment of over EUR 20 million, is under construction. 

The company said that it sold over 95% of the 232 apartments included in the first phase of the project and is now delivering the units to the buyers. 

The second phase of First Estates Pipera is set to be delivered in the spring of 2025. Over 80% of the 232 studios and one-, two-, and three-bedroom apartments have been sold so far.

The project, which is developed in the north of Bucharest, uses a geothermal heat pump system and photovoltaic panels following a EUR 3 million investment. The solar panels placed on the roofs of the buildings will produce the energy necessary for the full operation of the heating pumps and, depending on their use, will also provide a surplus of electricity which the tenants' association will use according to their own decision. 

Moreover, the developer will also implement in both projects a passive cooling system through the floor, which offers a higher degree of efficiency compared to the classic cooling system, with estimates indicating an over 30% decrease in the cooling costs of the apartments, according to the press release from SVN Romania.

Alsin Management is also developing First Estates Villas, a premium project with 20 villas located in the Pipera area, with an estimated market value of EUR 9 million, which will also offer very low maintenance costs.

irina.marica@romania-insider.com

(Photo source: SVN Romania)