Real-estate developer De Silva has finished about 70% of Park Residences 5, a 160-apartment residential complex in northern Bucharest, which will be finished in April-May 2015, reports local Capital.ro.

De Silva group is owned by Virgil Calina and his wife Meda de Silvania Calina, also owners of Ramada Bucharest North hotel, and the godparents of famous tennis player and businessman Ilie Nastase.

Construction of the three-storey building started in November 2013. Up to this stage, about 40% of the apartments were already sold. Developers expect the pace of sales to increase with the completion of the compound.

"In the first phase of the construction, the apartments have been mostly bought by investors, to be subsequently leased, given the high demand for rental apartments in the area," said Emanuel Postoaca, general manager of Nordis, the exclusive sales agent of the project.

editor@romania-insider.com

(photo source: parkresidences.ro)