Spanish developer Gran Via Real Estate announced “results beyond expectations for 2020 on the Romanian market.” Despite the two months of lockdown in Romania last year, the company traded 478 residential units, with a total value of EUR 44.2 million, in projects such as Timisoara 58 (phase IV and the last in the development), Aviatiei Apartments (phase I), Gran Via Park (phase IV and the last in the development), and Gran Via Marina in Constanta (phase I).

On average, the developer managed to sell 47 apartments per month on the Romanian market.

“The best-selling products were the two-room units, for which we had the largest stock, but the demand for the three-room apartments exceeded the stock we had,” said Ana Maria Nemtanu, Sales & Marketing Director, Gran Via Romania.

This year, the Spanish developer is to complete phase IV of Timisoara 58 compound in Bucharest and phase I at Gran Via Marina in Constanta, while working on phase IV at Gran Via Park. The company plans to launch new phases at Aviatiei Apartments and Gran Via Marina, as well as a new project in Bucharest. 

The first project of Gran Via in Romania was Timisoara 58, built on the former Frigocom platform, in Bucharest’s District 6. The project totals 800 apartments. 

The second development was Gran Via Park, near the Plaza Mall, on the former Electrotehnica factory site. Today, this has become the company’s largest project in Romania, with 1,000 apartments completed and another 220 under construction. 

Aviatiei Apartments is the third project on the local market, also built on an industrial lot of Paste Baneasa, in the Aviatiei area in Bucharest. In this location, 291 apartments were delivered at the end of 2019. 

The fourth project is Gran Via Marina, in Constanta, near Vivo! shopping mall, where the first phase totaling 192 apartments, will be handed over this spring. Upon completion, the entire complex will have about 1,000 apartments.

irina.marica@romania-insider.com

(Photo source: the company)