Cordia intends to start, by the end of 2020, construction works on the second phase of Parcului20 residential project in Expoziției area, North Bucharest.
The company is preparing the first phase’s building commissioning and starts the sales for the project`s second phase in September 2020.
Parcului20 is among the first smart residential projects in Romania, all its apartments being equipped with integrated state-of-the-art smart home systems.
Over 3.000 square meters of private garden, charging stations for electric vehicles, bicycle parking spaces, yoga garden and outdoor equipment for calisthenics are amongst the main differentiators, as the project is designed for livability and energy efficiency.
Cordia, investment budget worth EUR 40 mil. for acquiring land-plots in Bucharest
In addition to the EUR 40 million investment in Parcului20 and to the EUR 120 mil. investment plan for developing residential projects on five already acquired land-plots in Central-North Bucharest, generating a 2,000 apartments pipeline on medium term, Cordia Romania has an investment budget worth EUR 40 mil. for acquiring land-plots in Bucharest.
Thus, Cordia Romania`s total allocated investment budget on medium-term reaches a total of EUR 200 mil.
The investments for further expanding on the Romanian real estate market will be partly financed using funds collected from the bond issuance under the National Bank of Hungary’s Bond Funding for Growth Scheme.
Cordia has recently issued a EUR 135 million 7-year bond and a EUR 105 million 10-year bond to fund its international expansion.
Cordia acquired nearly 93% of stocks of Polnord residential development company listed on the Warsaw Stock Exchange, a 20% stake in Argo Properties NV, a Dutch company active in the residential rental and large-scale urban renewal business in Germany, and Blackswan Property, a Birmingham-based PRS- (Private Rental Sector) specialist developer.
The latest acquisitions increased Cordia’s development land bank to over 14.000 apartments.