The company delivered 352 homes in Phase 1 of the Avalon Estate complex near Bucharest in 2023 (of which 96% are already sold) and the associated underground infrastructure for Phase 2. Another 153 units will be completed in this new stage.
This means nearly 70% of the final project (comprising 746 homes) represents residential units and common spaces either delivered or currently under construction.
Ultimately, the complex will host a community of approximately 1,500 - 2,000 residents.
Romania remains one of the countries with the lowest mortgage penetration rates in the European Union, according to a Colliers' analysis.
The total number of homes completed in Romania in the first nine months of the year was 42,312, down by 18.1% compared to the same period last year, according to a report by the National Institute of Statistics (INS).
Victor Terheș, Sales Director at Bellemonde, talked to Property Forum about the status of its €40 million residential investment in northern Bucharest and the growing demand for homes in this area in the long term.
Anchor Grup has announced its Bucharest-based residential project Select Residences has reached the delivery phase.
Speedwell Development has obtained the construction permits for the first 50 luxury villas in a new residential project in Corbeanca, near Bucharest, where it plans to invest €94 million.
The Bellemonde residential complex in Pipera, near Bucharest, is recording growth in sales for its villas and apartments.
Energy company Electrica informs investors and the capital market that it has obtained the technical grid connection permits (ATR) for 17 new battery energy storage projects (BESS), with a total capacity of approximately 700 MWh.
The European Retail Banking Radar, Kearney's latest study now in its 18th edition, shows that Europe is entering a period of normalisation following the conditions of 2023–2025. For Romania, the challenge extends beyond the normalisation of interest rates.
Digi Spain has announced its intention to launch an initial public offering (IPO) on the Spanish stock exchanges, aiming to raise approximately €150 million.
Romania's national electricity transmission network operator, Transelectrica, has halted scheduled maintenance shutdowns to ensure the grid operates at maximum capacity during an ongoing extreme heatwave. The preventive measures aim to mitigate operational risks associated with severe weather conditions.
The European Commission has approved, under EU State aid rules, Romanian measures for the national investment and development bank Banca de Investiții și Dezvoltare (BID).
