The real estate developer Nusco Imobiliara, which is developing a major real estate project in the northern part of Bucharest in the Pipera neighborhood, estimated to eventually involve nearly EUR 1 billion investments, announced plans to issue bonds in the amount of EUR 5 mln to be further listed at the Bucharest Stock Exchange.

The company's shareholders approved this step and hired BRK Financial Group to handle the issue.

Earlier this year, Nusco borrowed EUR 31.4 million from its strategic partner OTP Bank (Romania) to finance the second phase (EUR 130 million) of the Nusco City project, expected to eventually include 4,000 housing units. The project was launched in the winter of 2020. The first phase, with 622 housing units, was delivered in Q2 2023, and the second phase will include another 828 housing units, with the first 340 scheduled for completion in Q3 2025.

"After 27 years on the Romanian market and after many successful landmark projects, we decided to move further in terms of investments. Given that our products are very safe, we consider it appropriate to list our first bond issue on the Bucharest Stock Exchange," said CEO Michele Nusco.

Covering an area of 23 hectares, Nusco's major project Nusco City developed in northern Bucharest, will accommodate more than 4,000 apartments, parks, green areas, and infrastructure – which will cover approximately 40% of the entire project area – along with educational facilities, dedicated shopping areas, office areas, a hotel, and its own hospital.

Nusco City was launched in the winter of 2020 and delivered its first phase in Q2 2023.

Founded in 1997, Nusco Imobiliara boasts among its projects developments such as Premio – a premium boutique residential complex; CITTA Park residential complex; Nusco Towers office building; Caramfil office building; Floreasca One office building; Floreasca Two office building; Pipera Commercial Park.

iulian@romania-insider.com

(Photo source: the company)