Redport Capital and the Mobexpert group announced that they completed the process of purchasing 44,000 square meters of land near Petrom City in the northern part of Bucharest for EUR 13 mln.

The land is divided into three lots, located adjacent to Petrom City office buildings, opening onto Petrolistilor Boulevard, in an area representing one of the hottest spots on the real estate development map in Bucharest, with a well-developed general infrastructure.

"We completed one of the most important transactions with land located in the northern area of ​​the capital city, the purchased lot giving us the opportunity to develop a flagship project of the entire Străuleşti area - which will become one of the main development poles of Bucharest," said Cosmin Savu-Cristescu, managing director and majority shareholder of the Redport group, quoted by Ziarul Financiar.

The planned project will include over 1,000 housing units and is one of the largest urban regeneration projects in Bucharest, which will also offer large leisure areas, commercial spaces and multiple options for spending free time.

iulian@romania-insider.com

(Photo source: Dreamstime.com)