Real estate developer Redport has secured a EUR 9 million financing line from Intesa Sanpaolo Bank Romania for the development of the Vitality Est residential project in eastern Bucharest. The financing package also includes a dedicated VAT facility of around RON 5 million, providing what the company described as a predictable financial framework for the next development phases.<\/p>\n
The project is located near Lake Pantelimon and is positioned in the upper-medium residential segment.<\/p>\n
Developed in partnership with businessman Dan \u0218ucu, Vitality Est will be built on a 27,000 sqm plot and includes the construction of 500 apartments and 400 sqm of commercial space. The first phase will deliver 145 residential units, including studios, two- and three-room apartments, as well as units with private gardens, the developer said.<\/p>\n
Plus, the development will also integrate a Lidl store, with additional nearby amenities including Esplanada Mall and Ikea Pallady.<\/p>\n
\u201cAccess to financing in a selective economic climate is a real quality test for any developer,\u201d said Cosmin Savu Cristescu, CEO of Redport.<\/p>\n
The developer\u2019s portfolio also includes projects such as The Level Apartments and Infinity Nord in northern Bucharest.<\/p>\n
irina.marica@romania-insider.com<\/p>\n
(Photo source: the company)<\/p>","protected":false},"excerpt":{"rendered":"
Real estate developer Redport has secured a EUR 9 million financing line from Intesa Sanpaolo Bank Romania for the development of the Vitality Est residential project in eastern Bucharest. The financing package also includes a dedicated VAT facility of around RON 5 million, providing what the company described as a predictable financial framework for the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8879","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8879"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8879\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}