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August 17, 2022
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A new record for the residential market in Bucharest: More than 60% of the apartments in the first phase of the future residential complex SunLake already sold

Park Partners, part of the Park Properties Group and one of the most active developers of real estate projects in Bucharest, has managed to sell, still at the planning stage, more than 60% of the apartments in the first phase of the future residential complex SunLake, located on the shores of Lake Fundeni, a project that started only four months ago.

With a total area of more than 30,000 sqm upon completion and a market value exceeding 40 million euros, SunLake is one of the most ambitious residential projects in Bucharest, an architectural landmark with generous terraces and spacious lobbies, surrounded by Fundeni Lake, a green, quiet area with numerous leisure spaces – parks and playgrounds for children.

“The project broke ground in March this year and there has been a huge interest, mostly based on the reliability and quality of our previous projects. So far we have managed to secure over 60% of the pre-sales of the first 12-storey building, which is the first phase of the SunLake Residence development. The properties have been secured both from end customers who intend to live in the compound and from those who have purchased properties for investment purposes, as the area has a huge development potential, which can offer great returns in the face of the inflation we are facing”, said Alexandru Mănăilă, managing partner at Park Partners and one of the shareholders of the development company.

According to him, most investors are IT entrepreneurs, doctors or young corporates who want to protect their capital from record inflation and get a comfortable return on their investment.

 “We have developed more than 150 apartments in 9 buildings so far in Bucharest, located in central and ultra-central positions, totalling no less than 20,000 sqm, with a total value of more than 20 million euros. Most of our current clients are partners with whom we have collaborated in the past, and who chose us precisely because of the quality and professionalism with which we have developed real estate projects, respecting the quality of materials and finishes, but also assuming realistic delivery deadlines”, added Alexandru Mănăilă.

SunLake apartments are in studio, two and three room configurations and larger duplex penthouses located on the top floors. The properties range in size from 51 to 172 sqm, with prices starting from EUR 69,900 + VAT.

 

A project for a sustainable future: SunLake will feature photovoltaic panels, solar panels for hot water heating and LED indoor and street lighting

 

SunLake Residence has been designed in accordance with the highest sustainability requirements to reduce the high costs of heating homes, i.e. high gas or electricity consumption.

On completion, the residential complex will have a built-up area of over 30,000 square metres, divided into two buildings of 12 floors and one of 17 floors, with a total of over 300 apartments and more than 350 parking spaces, both underground and above ground. The compound will benefit from a private park of 1,500 square meters, with a promenade on the shores of Lake Fundeni, private security, and the innovation features that include the availability of energy efficiency solutions, SunLake benefiting from photovoltaic panels and hot water preparation panels located on each building.

The photovoltaic panels on the roof of each block will be used to illuminate the common access areas and each level, as well as the annexes and alleyways in the complex and the underground parking lot.

“We believe in a green and environmentally friendly future, and this is how the SunLake project was conceived from the very beginning – people in communion with nature, and nature in communion with people. By building the SunLake complex, we want to be closer to the global requirements of increasing energy independence, as it is known that globally housing is responsible for almost 20% of carbon emissions, and our investment approach brings many benefits for both nature and future owners”, added Alexandru Mănăilă.

According to the work schedule, the first phase of the SunLake Residence project, comprising the first of three buildings, will be completed next year, with more than 60% of the project already contracted.

 

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