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Romanian real estate developer Tomis Plus to invest 20 mln euro in residential project

Romanian real estate developer Tomis Plus to invest 20 mln euro in residential project Tomis Plus - Tomis Park in Constanta, Romania

BUCHAREST (Romania), November 19 (SeeNews) - Romanian real estate developer Tomis Plus said on Tuesday it is investing 20 million euro ($22.1 million) in the second phase of the Tomis Park residential project in the Black Sea port city of Constanta.

Tomis Plus will build 252 apartments in the second phase of the project, which is scheduled for delivery in 2022, it said in a press release.

The second phase also includes a 7,300 park, commercial spaces, a kindergarten and 1,000 parking lots.

"Constanta is the third [biggest] county in Romania based on the gross domestic product (GDP) and it has a significant residential market, which however includes only a few large projects located in the city," Tomis Plus general manager Cristian Stanciu said.

The first phase of the project comprises 189 apartments scheduled for delivery at the end of 2020. Some 75% of them are already sold, the company said.

Tomis Plus was founded in 2012 and has previously developed over 1,000 apartments in Constanta and capital Bucharest.

($=0.9043 euro)

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