Belgian real estate developer Atenor has started the construction of its first luxury residential project in Bucharest, called UP-site.

The project is located in the northern part of the city (Floreasca area) and involves an investment of EUR 70 million for the construction of 270 apartments, real estate consultancy company Knight Frank Romani announced on Wednesday, April 14.

"The building permit was obtained in mid-May 2020, but in the context of the pandemic generated by COVID-19, the construction works could not be started earlier," said representatives of Knight Frank Romania, which deals with the sale of housing within the project.

UP-site Bucharest will include 270 apartments in two 12- and 25-story residential buildings, connected by a joint ground floor.

The apartment prices start from EUR 114,350 for those with two rooms and can reach EUR 435,952 for four rooms or EUR 927,488 for penthouses.

Atenor is a Belgian urban real estate development company with European expertise listed on the Euronext Exchange in Brussels.

(Photo courtesy of the company)

andrei@romania-insider.com