HORIZON CITY, the residential project developed by British investor Ghai Sant Ram in northern Bucharest, has secured 36.5 million euros in financing from Libra Internet Bank. The funds will be used to continue and accelerate construction works, with full project completion targeted for the first half of 2027, six months earlier than initially announced.
“The €36.5 million financing represents a very important step for HORIZON CITY and provides the project with a solid financial resource for the next stage of development. For buyers, this financial structure means greater predictability and security regarding the accelerated progress of the project,” says Cătălin Apetri, CEO and Founder of CGA Home Consulting and Development Director for Romania for investor Ghai Sant Ram.
Construction works at HORIZON CITY are progressing simultaneously on the structural elements, partitions, installations and preparations for the finishing stages.
“Libra Internet Bank’s experience in financing residential developments enables us to thoroughly understand the requirements and challenges associated with investments on the scale of HORIZON CITY, particularly in a context in which access to financing is essential for achieving project objectives. This is why we continue to support real estate projects with clear goals and solid fundamentals, and we are confident that HORIZON CITY will become a landmark in one of Romania’s most highly regarded residential areas,” says Cristina Mahika-Voiconi, Chief Executive Officer of Libra Internet Bank.
HORIZON CITY is being developed on Pipera Boulevard, on a 23,000-square-metre site, and comprises 699 residential units arranged across eight stairwells and two development phases. The project provides 926 parking spaces, including 900 underground and 26 above ground. The total investment exceeds €130 million.
“We are entering an important stage of the project, in which the focus is increasingly shifting to installations, partitions and finishes. The financing we have secured allows us to plan the next stages very clearly, accelerate works wherever possible and, at the same time, implement high quality standards for HORIZON CITY,” says Cristian Stanciu, CEO of the HORIZON CITY project.
As construction progresses, the developer has finalized discussions with third parties and suppliers for the main categories of finishes and equipment to be integrated into HORIZON CITY.
The apartments will be delivered fully finished and ready to furnish. Apartment entrance doors and interior doors will be from the PINUM range, while bathrooms will feature GROHE sanitary ware and faucets. Interior cooling will be provided by individual SAMSUNG air-conditioning units installed in living rooms and bedrooms.
The external walls are built using 30 cm YTONG masonry, complemented by a ventilated façade system. Thermal insulation is provided by ROCKWOOL basalt mineral wool, an A1-class non-combustible material, together with an anti-condensation membrane, metal substructure and HPL panels.
Vehicle access to the development will be controlled by a barrier, while pedestrian access will be provided through dedicated gates. The project also includes a video surveillance system with IP cameras installed at the entrances to the stairwells and at the vehicle entrance to the parking area.