Hungary’s Futureal group, through its local division Cordia Romania, plans to develop at least three new residential projects in Bucharest, in addition to the one announced in the Expozitiei area (central-north Bucharest), so that the group will reach over 1,800 built-in apartments, Ziarul Financiar informed.

"We have four plots in Bucharest, one for the Parcului 20 project in the Expozitiei area, and three others in locations that are not yet public. On these three plots we can build a total of 1,300 apartments, and with those in the Parcului 20, we reach 1,800 apartments if we use the maximum development capacity. Our strategy is to buy only if the land has an approved urbanisation plan for the area (PUZ)," said Mauricio Mesa Gomez, CEO of Cordia Romania, part of the Hungarian Futureal group.

Cordia Romania has already started the Parcului 20 project in the Expozitiei area, which will be developed in two phases with a total of almost 500 apartments.

"Of the new projects, we are now working on the design and the PUZ, and everything depends on the permits. A project of about 800 apartments is at a more advanced stage, but there we will build it in consecutive stages. We will launch it most likely in June-September 2019," said Cordia Romania’s director.

Residential developer plans EUR 50 mln investments in Romania

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