Alfa Group invests €90 million in new resi complex in northern Bucharest

Business Forum

24 April, 2025 at 11:39 AM

Alfa Group is investing €90 million in the first phase of a new residential project in northern Bucharest.

The group is developing the Cloud9 Evolution project, which is located near the already completed Cloud9 Residence. The new complex will add 612 new apartments and 658 parking spaces to the area and is expected to be completed by the end of 2025, with 70% of the residential units already sold.

Răzvan Brasla, CEO of Cloud9 Residence, stated that the new development is designed to fully embrace the 15-minute city principles.

"Project financing has been provided entirely from own funds and bank loans, without relying on deposits received from clients. In line with international practice in the real estate sector, the advance payments have been secured in an escrow account," said the CEO.

Alfa Group has delivered more than 15,000 apartments and delivered over 1 million sqm of residential and office space to date.

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Răzvan Brasla, CEO of Cloud9, spoke to Property Forum about the 2026 residential outlook, where limited supply and administrative hurdles will keep prices stable. He also detailed progress on Cloud9 Evolution, a 15-minute city development featuring an integrated €3 million school.

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Răzvan Brasla, CEO of Cloud9 Residence, talked to Property Forum about the company's €90 million investment in a new residential complex in northern Bucharest and the trend of homebuyers who want to be close to the main business hub of the city that comprises a wide range of facilities.

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