Real estate developer Hercesa Romania said that it kicked off in May the construction works on the first building of the last phase of the Vivenda Residencias project in the Titan area of Bucharest. The entire D building, with a total of 400 apartments, is to be completed in the third quarter of 2026.

Apartment prices in block D vary between EUR 93,000 plus VAT for a studio and EUR 242,000 plus VAT for a 4 or 5-room apartment, the company said. 

The announcement comes one month after the start of works on the second building in the Stellaris Residencias project, which the company is developing in western Bucharest, near the Steaua stadium.

In parallel, Hercesa Romania is building block L in Vivenda, a concept with only two apartments per floor set to be completed in September 2024. The project will have 80 apartments with 3 and 4 rooms, with total usable areas between 82 sqm and 115 sqm and prices starting from EUR 135,800 + VAT.

Meanwhile, in Stellaris Residencias, the company works in parallel on two buildings, with 129 and 125 apartments, respectively. The completion deadlines are the end of 2024 for the first building and the fourth quarter of 2025 for the second.

Hercesa has been present in the Romanian market since 2004 and has since delivered 1,000 apartments in the Vivenda Residencias project in the Titan area of Bucharest. In 2012, Hercesa Romania reopened the Cismigiu Hotel, which is still in the company’s portfolio.

Currently, in total, Hercesa Romania has under construction and in preparation 1,000 apartments in the projects Stellaris Residencias and Vivenda Residencias.

Stellaris Residencias is the second large-scale residential project developed by Hercesa Romania in Bucharest after Vivenda Residencias and will comprise a total of 4,500 apartments. The first phase of Stellaris Residencias involves an investment of EUR 59 million, will be built in four stages, and will comprise 482 apartments.

newsroom@romania-insider.com

(Photo source: Hercesa)