Turkish investor Ahmet Buyukhanli, who controls the residential project Cosmopolis in north of Bucharest via the company Opus Land Development, has entered a partnership with a group of private investors represented by a Dutch firm to invest in the project’s next development stage in the next five years.

The new partnership is carried out via the newly established firm Vision Land Development, but the name will change to Opus Land Residential Developments SRL, reports local Profit.ro.

The Turkish investor explained that the demand for housing in Cosmopolis has been considerably higher than the existing stock in the last two years. Buyukhanli decided to enter this partnership to be able to speed up the annual construction pace.

Cosmopolis is located in the north-east of Bucharest, near the Bucharest beltway, between the bridges in Pipera-Tunari and Andronache-Stefanestii de Jos. The developer has completed 2,300 homes so far, following a total investment of EUR 280 million.

Last year it sold 470 homes and the Turkish investor plans to sell some 540 units this year.

editor@romania-insider.com