May 17 (SeeNews) - Romanian real estate developer Redport Capital and local furniture producer and retailer Mobexpert said on Wednesday that they are investing around 150 million euro ($162.4 million) in a large-scale residential development in Bucharest.
The compound, Infinity Nord, will be delivered in four phases and will comprise 1,250 apartments and 1,500 parking spaces, Redport Capital and Mobexpert said in a joint press release.
Construction is expected to start this year, with the entire complex to be delivered in 2030.
Infinity Nord will be located north of Bucharest and will span an area of 44,000 sq m. Its total buildable area will be 125,000 sq m.
The Redport Group was established in 2016 and encompasses companies active in the construction, investment, development and management of real estate projects. Its portfolio thus far comprises 175 delivered apartments and investments worth 16 million euro.
Mobexpert was founded in 1993 and operates in the design, planning, manufacturing and retail of furniture.
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