Romanian investor Dan Sucu, the owner of the furniture retailer Mobexpert, has started together with the Pitesti construction firm Conarg the Arcadia Apartments residential project, located in the Domenii-Expozitiei area, Northern Bucharest.

The project will include 1,000 apartments and is close to the Grivita metro station in Bucharest, reports Ziarul Financiar.

Sucu acquired a three-hectare plot close to the Domenii Square, and has already kicked off the project’s first stage. The plot is also close to the Expozitiei area, a future office hub in Bucharest, which started to take shape after the new metro line between the Grivita metro station and the Otopeni airport was announced.

Apartments in Sucu’s project will have average prices between EUR 1,300 and EUR 1,500 per sqm, without VAT.

Mobexpert is expected to record EUR 180 million sales this year.

editor@romania-insider.com