HORIZON CITY, the residential project developed by British investor Ghai Sant Ram in northern Bucharest, has secured EUR 36.5 million in financing from Libra Internet Bank. The total investment exceeds EUR 130 million.
The financing provides the necessary resources for the building process independently of the pace at which advance payments are collected from buyers under pre-sale agreements. As such, it will allow for the acceleration of construction works, with full project completion targeted for the first half of 2027, six months earlier than initially announced, according to a press release.
“For buyers, this financial structure means greater predictability and security regarding the accelerated progress of the project,” said Cătălin Apetri, CEO and Founder of CGA Home Consulting and Development Director for Romania for investor Ghai Sant Ram.
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.
“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,” said 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 acceleration of HORIZON CITY is taking place in parallel with the expansion of British investor Ghai Sant Ram’s portfolio in Romania. Recently, through Ghai Family Holding, he acquired from businessman George Becali a plot of approximately 30,000 square metres located near Pipera Plaza. The transaction was valued at approximately EUR 14.3 million, and the land was acquired together with the permit for the development of a large-scale real estate project.
With 1,188 apartments at IVORY RESIDENCE, 699 units at HORIZON CITY, and approximately 650 homes planned in the recently acquired new project, the investor’s residential portfolio in Romania exceeds 2,500 units.
(Photo source: press release)
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