Romanian real estate developer Impact signed two contracts worth EUR 18.4 million with local construction company Electrogrup, Economica.net reported.

The deals target constructing five new apartment buildings in the Greenfield Baneasa project located in northern Bucharest.

The five blocks comprise an additional 406 apartments.

They are part of a total of 14 blocks and 1,167 apartments envisaged in the project's new development phase.

The total value of the investment amounts to EUR 26.6 million (including VAT).

In December, the developer announced that it sold almost all of the apartments built in the first three phases of the Greenfield Baneasa project. The company still had 33 units for sale, mainly four-room apartments, out of the 2,548 completed apartments.

The neighborhood is in the process of expanding with a new phase of development and new facilities. So far, the area built in Greenfield covers 30 hectares, and the new stages under construction will occupy nine hectares.

(Photo: Pixabay)

andrei@romania-insider.com