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August 11, 2022

Point Development announces sales of over 90% for phase II of its resi-scheme City Point

70% of the future residents are IT professionals



Point Development, the local subsidiary of the Israeli group Shikun & Binui, announces sales of over 90% for the 355 apartments available in phase II of its large-scale resi-scheme City Point, with 70% of the future residents working in the IT field.

The developer is advancing fast with the construction works and is close to deliver, in the first part of 2022, 107 apartments, respectively building D. Concurrently, the company is working on the interior partitions of the units available in building E and the structure of tower-building F that currently reached level 10/18. Based on the growing demand in the market, especially demand coming from IT professionals but not only, the expansion of City Point is scheduled to continue in the future with a third phase that will complete the present development with three additional residential buildings.

Since its launch, City Point has been an extremely well-received project, especially by the IT community. Based on the positive feedback and the favourable results obtained in each sale phase, two years ago we decided to expand the project with three additional buildings where we have already sold more than 300 units. Likewise, the rising interest of the public together with the continuous development of the area are relevant signs of a strong demand and with this in mind we are planning, sometime in the future, to further expand the project by a third phase, meaning three more new buildings.”, said Roxana Gherghe, Chief Financial Officer Point Development.

Commenced in 2019, the expansion works on the project by encompassing buildings D, E and F imply a consolidated investment of 100 million euros and will be completed in 2023. Phase II will deliver 355 units across three buildings with height regime of GF + 12F, respectively GF + 18F, to which 500 parking spaces, more than 6,000 square meters of green spaces with pedestrian alleys and running tracks, multifunctional constructions that will accommodate SPA facilities, a fitness room, commercial spaces right inside the complex, and also a co-working space located outdoors are added.

City Point is one of the largest newly developed residential projects in the Aviatiei – Pipera area and the sixth LEED-ND certified project in Europe.




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