March 1 (SeeNews) - Romanian real estate developer Interdraw said that it plans to invest more than 30 million euro ($31.9 million) in Sungate Apartments, a residential project in the capital Bucharest.
The compound will comprise three buildings of a total 248 apartments and will be built on a land plot of about 7,700 sq m, Interdraw said in a press release on Tuesday.
Sungate Apartments will also feature commercial space on the ground floor of each building, as well as underground and above ground parking area.
The company has obtained the building permit for the development and is now in negotiations with interested investors.
"We are in advanced discussions with several investors to obtain the necessary financing to start the whole project," Ulisse Gheduzzi, founder of Interdraw, was quoted as saying.
Interdraw has more than 20 years of experience as a real estate developer on the Romanian market. The company's portfolio includes many important projects in the civil, industrial, infrastructure, hydrotechnical and special construction segment.
($=0.93856 euro)