Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Most real estate projects announced by Spanish investors, halted because of scant financing

The real estate development companies of Spain which were among the most important buyers of land for the construction of residential buildings in Bucharest and other Romanian towns two-three years ago, have started the construction works for only 1,500 apartments considering the land purchased over the past two-three years allow for the construction of over 20,000 residential units, daily Ziarul Financiar reports.

Most projects which haven't yet started are blocked at present because of the lack of financing and considering the sale of dwelling units will maintain at low rates, companies will postpone this development in the future. The biggest residential projects which have started with Spanish developer are Vivenda Residencias near Basarabia Boulevard in Bucharest and Flamenco of Constanta. On the land of the two projects the construction of 30,000 dwelling units is scheduled, but at present works are being carried out for 420 units of the residential complex developed by Hercesa of Bucharest, respectively 400 apartments in Constanta complex of Gran Vita company.

The biggest Spanish residential investment executed on the domestic market is complex Ibiza Sol of Pipera in which 304 dwelling units were finalized at the end of last year. At the same time, company GEA Prasa has 252 dwelling units in Laguna residential complex under construction, whereas Grupo Lar builds 400 apartments in projects Natura Residence and Serena Apartments of Baneasa, Carol Park.

On the other hand, Spanish development companies have plots of land covering over 100 ha with investments worth some 2.3 billion euros for the construction of over 20,000 dwelling units.

The bulk of these lots are represented by former plants in Bucharest such as Tricodava, Muntenia, Frigocom, Spicul or Electrotehnica, on which the demolition works have already been carried out, so that owners are expecting the obtaining of necessary authorizations and mainly the resumption of sales and crediting.

'We might start the construction works on the land of former Spicul plant by the end of this year, if the market's conditions improve. The projects of Ghencea area which stipulates the construction of some 3,000 dwelling units will be put on hold, said Alejandro Solano, general manager of Hercesa in Romania, the company which owns land for the construction of 5,000-6,000 dwelling units in Bucharest. The representatives of Gran Via have told recently that no decision has been taken yet regarding the start of the projects in Drumul Taberei, on which 5,000 dwelling units might be built.

The biggest Spanish project announced on the local market will be carried out in Stefanesti, north of Bucharest, where company Martinsa-Fadesa held, according to the latest available information, a plot of land of 64 ha, on which it planned to commission 7,600 apartments.

 

Sursa: http://www.rompress.ro

Tags: units apartments dwelling bucharest residential spanish which construction projects

Articole similare