Real estate developer Maurer Imobiliare, founded by businessman Simon Maurer, purchased a land plot of 3.4 hectares in Brasov, central Romania, to build the third phase of the Avantgarden3 residential project, reports local Wall-street.ro.

“Last year, we purchased a land plot of some 5 hectares for the second phase of the project which will comprise 18 buildings, namely 1,200 apartments, and this year we purchased another land, where we’ll build the third phase of the project, with 10 blocks, meaning 700 apartments. We now have a total of 18.4 hectares of land in Avantgarden3,” said Liliana Tene, marketing director for Maurer Imobiliare.

Construction work continues for the first phase, where 14 out of the 18 buildings have been delivered so far. Two more buildings are to be delivered this summer, while the last two will be finished by the end of the year.

The developer has also started the construction of the second phase. Work on the third phase will begin depending on how fast the apartments from the previous stages will be sold.

Maurer Imobiliare is a German company that started its activity in real estate in 2006. Its first real estate project was developed in Cluj and comprises 29 apartments. the company has another project under development in Sibiu.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Avantgarden3 on Facebook)