BUSINESS BUSINESS COMPANIES ECONOMY INVESTMENTS Real Estate

Electrogrup enters the Bucharest construction market with a residential project developed by Nusco Imobiliara worth 5.6 million euro

Electrogrup, member of the E-INFRA holding, announces the start of works for the third phase of the residential project CITTA’ Residential Park,  developed by Nusco Imobiliara, one of the largest industry operators in Romania, worth over 5.6 million euro.

“Our proven experience in the construction area in Romania and other European states is highlighted by the company’s first project in Bucharest. We kick off, along with our partner – Nusco Imobiliara, a large project, with an area of approximately 5,500 square meters, consisting in a residential building with 11 floors and two underground levels, part of one of the most important residential complexes in the eastern part of the capital,” says Costin Schmidt, Commercial Director, Electrogrup.

Works started in January 2020, and their duration is estimated at one year. The built area covers more than 13,100 square meters, and the building will house 94 two- and three-bedroom apartments. The underground will be fully allocated to parking spaces for the tenants, storage spaces and technical room.

“In 2020, we will complete the last stage for the CITTA ‘Residential Park ensemble and launch a new large-scale project, with over 500 apartments, in the northern area of the Capital,” announces Michele Nusco, President, Nusco Imobiliara.

Located in Bucharest’s 2nd District, with easy access from the Pantelimon Road, close to points of interest like Mega Mall or National Arena, the project will also include exterior amenities that will consist in green spaces and additional parking spots. So far, two stages have been developed, with 380 apartments delivered in 2019, and the residential complex will be completed with a further 94 apartments, from the newest building.

Electrogrup has developed, as General Contractor, complex projects in various construction sectors, in Romania and abroad, in countries like Germany, Poland, Belgium or the Netherlands. Thus, the company contributes to meeting the national need for sustainable infrastructure construction, in addition to the significant role in its core fields of activity – energy and telecommunications.

Electrogroup is also one of the most active providers of Smart City turn-key solutions for public administrations and private companies. Recently, the company has started developing a multi-storey parking lot, equipped with Smart solutions, in Oradea, as well as the layout of the runway and signage for the Ghimbav-Brașov Airport.

 

About Nusco Imobiliara

 

Nusco Imobiliara is one of the largest real estate operators in Romania. The company aims to develop important urban areas, through the design and construction of residential complexes, office buildings and commercial parks designed modernly, inspired by the principles of quality and sustainability for the environment. Nusco Imobiliara also invests in the retail sector, offices and tourist complexes on the European market, as well. The company has earned its role of key player in real estate development in Bucharest. Nusco Imobiliara realizes, on its own behalf, the management and promotion of the buildings it owns, in order to constantly improve the investment performance.

 

About Electrogrup

 

Starting with 1997, Electrogrup offers and supports long-term partnerships for construction projects in various fields. The company provides energy infrastructure, telecommunications, civil construction and smart city services, being an active supporter of the evolution and growth of the quality of life through a modern and quality infrastructure.

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