Bog’Art Residential, part of the Bog’Art Group, a developer of premium residential properties in Central and Northern Bucharest, acquired a plot of land in an ultra-central area of Bucharest and formed a strategic joint venture with a Spanish investor for the development of a boutique residential complex valued at about EUR 20 million.
The project will be located in a prime area between the Evreiesc and Armenească neighborhoods, according to law firm Pop Briciu Crai, which assisted the developer in the deal.
The new development will feature a diverse mix of units, ranging from two-room apartments to townhouses and penthouses. Additionally, it will include aparthotel units, the same source said.
“This transaction marks a strategic step in expanding our portfolio and reaffirms Bog’Art Residential’s commitment to investing in landmark projects that contribute to Bucharest’s urban transformation,” said Bogdan Letcă, CEO of Bog’Art Residential.
irina.marica@romania-insider.com
(Photo source: Pop Briciu Crai)