NEPI Residential, the new division of the NEPI Rockcastle property group, said it has received the construction permit and started the works at Vulcan Residence, its first residential project in Bucharest. The apartment complex, which requires an investment of around EUR 22 million, will be finalized in the third quarter of 2023.

Located in the 13 Septembrie area in Bucharest, Vulcan Residence will have 256 apartments (single and double studios, apartments with 2, 3 and 4 rooms, as well as penthouse units on two levels). It will also provide owners with underground and above-ground parking spaces, charging stations for cars, scooters, and electric scooters, a playground, and commercial service spaces.

“The first NEPI Residential project means a solid, long-term own investment and reflects the group’s confidence in the versatility and attractiveness of mixed projects - retail, office, residential,” said Iulian Rusu, Head of NEPI Residential.

NEPI Rockcastle has chosen Crosspoint Real Estate as the sole sales agent for this project.

NEPI Rockcastle is the largest investor and developer of shopping malls in Central and Eastern Europe, including Romania.

irina.marica@romania-insider.com

(Photo source: the company)