Romanian developer Metropolitan Residence unveiled plans to develop an ultra-premium project, Crown Towers, in Bucharest’s Herastrau area, possibly under a mixed-use format.

The project will include 230 apartments, and the developer is considering adding office and retail spaces and a leisure center with spa, pool and fitness center (in a second phase).

The investment is estimated at around EUR 100 mln and the project will be carried out in two stages.

"Customers are becoming more knowledgeable about this high-end segment and have growing expectations, more sophisticated requirements. Crown Towers will be a new product that will give them the cosmopolitan lifestyle they want, both by location, as well as by design and services. We will offer them the possibility to customize their apartments and will provide them with a smart home system that will completely change the way they interact with the living space," says Silviu Grigorescu, general manager Metropolitan Residence.

The first phase involves the development of 156 apartments with areas between 90 and 650 sqm and an office building with a total area of 4,530 sqm.

The first phase is expected to be completed by the end of 2021.

Metropolitan Residence is one of the largest real estate developers with 100% Romanian capital. Since its debut on the real estate market in 2010, it has developed 17 residential complexes (over 3,000 apartments) with total investments of over EUR 200 million.

The developer plans to launch new projects as it owns about 30 hectares of land in Northern Bucharest.

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editor@romania-insider.com