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Bucharest
January 31, 2023
BUSINESS

Mohammad Murad invests EUR 4 M in residential center in northern Bucharest

Mohammad Murad, the owner of the Phoenicia hotel chain, has invested EUR 4 M in a residential center located in northern Bucharest, a center that consists of 90 apartments put up for sale at prices ranging from EUR 46,000 to EUR 60,000.
The Triumf Construct company, a member of the Phoenicia Group owned by Murad, has finalized this week construction works on the “Green Residence” residential center. The center is located in Baneasa, on the Gheorghe Ionescu Sisesti Street.
The center consists of five three-storey apartment buildings that total 90 two- and three-room apartments. All apartments are already finished and will be put up for sale this week. The sale price is of EUR 590 per square meter.  The residential center has all utilities, internet connection, 100 parking places and a playground for children. In the last ten years Mohammad Murad has built over 2,000 apartments in apartment buildings and villas in several neighborhoods in Bucharest and Constanta. The businessman is one of the biggest hotel owners in Romania, having several hotels in Bucharest and at the seaside. Apart from the Phoenicia hotel chain, Murad also owns the Spring Time restaurant chain and the Mandy canned food plant.

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