Local real estate company ARQA announced a new premium residential project in northern Bucharest, which is to be developed with an estimated investment of EUR 50 million on a 10,000 sqm plot of land in the Iancu Niculae area. The company purchased the land for EUR 6 million.

ARQA said it plans to build a luxury real estate project with premium amenities, including spas and swimming pools.

“We were encouraged by the success of ARQA Jolie Village to choose the northern area of Bucharest for our next development. With an investment currently estimated at EUR 50 million, we are preparing 230 apartments and several hundred parking spaces for the customers of our future residential district,” said Lucia Niculae, Chief Investment Officer ARQA.

All the benefits and facilities the project will enjoy will be announced at a later stage, along with the name of the complex and all technical details.

The ARQA brand was created through a partnership between Petre Niculae, founder of Pedro Construct, and businessman Florin Ababe.

The developer said it is planning major investments in the Romanian real estate market over the coming years, an effort that began in 2022 with the investment of over EUR 20 million in ARQA Jolie Village, the first residential project in the brand’s portfolio. For the next five years, ARQA has already designed approximately 5,000 residential units in projects across Bucharest and is analyzing the purchase of more land in main cities nationwide.

irina.marica@romania-insider.com

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