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Israeli developer SBR to start second phase of New Point residential project in Bucharest

Israeli-based real estate developer, Shikun & Binui RED, announces that has sold 50 per cent of the first phase from the residential compound New Point, localized in Pipera, North of Bucharest and is to start construction works for the second phase.

2017-07-06 13:48:10

"We started construction works in November 2016 along with pre-sales for our project New Point in Pipera," said Favi Stelian, Managing Director, Shikun & Binui RED Romania. "At the end of the first semester of 2017, our sales team has concluded contracts for 70 units, representing over 50 per cent of the first phase from this compound. "Up to now, we have a percentage of 15 per cent investors and 85 per cent final clients in our sales records, the double studios and one-bedroom apartments representing the best sold units. Due to high demand, we will start in July the second phase of the project, consisting in another two blocks."

The first phase of the New Point project consists in two blocks, totalling 136 apartments, with a varied mix: double studios, one and two-bedroom units with diverse surfaces and space planning, covering the needs of the youngster generation. The investment in the first phase of this project reaches 7 million Euro, the two blocks following to be delivered in the first quarter of 2018.

Taking into consideration the high demand for the units in the first phase, the developer has decided to begin the second phase, construction works following to start in July. The second phase consists in two blocks with 136 apartments and will add another 7 million Euro investment. The developer uses its own funds to build New Point residential condominium. The estimated date for the delivery of the second phase is the end of 2018.

The developer of New Point residential project, Shikun & Binui RED, is one of the biggest real estate developers in Israel, being active in this industry ever since 1920, with diverse projects in infrastructure, real estate and renewable energy.
In Romania, the company develops alongside another partner, the successful residential project, City Point Aviatiei, which comprises up to now, 213 apartments finalized and sold during construction stage.



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