Romanian developer Prima Development Group will invest over EUR 20 million in a new residential project in Bucharest's Timpuri Noi area, one of the city's emerging business hubs, Economica.net reported.

"The Timpuri Noi area has always seen a high demand for residential units. Investments in the newly created business area contribute even more to this growth," said Claudia Tudor, sales manager at real estate consultancy company The Concept, which contributes to the marketing of the project.

The project will include 226 apartments, 250 parking spaces, and commercial spaces.

The Romanian developer, active in Bucharest and Oradea, western Romania, is owned by local investors Adrian Stoichina, Andrei Moanta, and Stefan Kopany.

The new project developed in Bucharest will be called Core Timpuri Noi and brings a series of modern facilities, the novelties being the smart home systems in each apartment, and the charging stations for electric and hybrid cars in the outdoor and underground parking.

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editor@romania-insider.com