The developer Euro Vial is investing over 50 million euros in a project with 800 apartments and a strip mall in Constanța. The developer recently bought a six-hectare plot of land for the new residential project.
Euro Vial Residence, one of the most important developers active on the regional real estate market in Constanța, bought six hectares of land in the northern area of the city of Constanța, towards Ovidiu, in the Palazul Mare area. The value of the transaction is 6.5 million euros, the company announced.
Upon completion, the land will have 800 apartments and houses, a 10,000 square meter strip mall, green areas, service spaces and smaller shops.
The entire land surface is divided into 12 lots, the company is going to start in the next period the general infrastructure works for all lots, from the road network with direct access to Tomis Boulevard, to the connection to all public utility networks (sewerage, water supply water, energy and gas), works that will require an estimated investment of 1.5 million euros.
At the same time, Euro Vial is in discussions with a major national supermarket operator to open a unit within the strip mall that will be developed within the project.
After the completion of the infrastructure works, the first phase of the residential project will also be started, which will include three six-storey buildings and a total of over 200 apartments, commercial spaces on the ground floor of the buildings and outdoor parking spaces. The company also wants to initiate negotiations with potential partners, in order to simultaneously start several phases of development of the residential component of the project.
Euro Vial Residence completed three residential projects in Mamaia – Sea ON and Lake ON – and in Bucharest – Forest ON, in the Băneasa area – with a total of 604 apartments, following total investments of 55 million euros. The developer is currently building two other residential projects, Private Lake in Mamaia, with delivery scheduled for December 2024 and where half of the homes have been sold, and Labirint Residence in Constanța, both totaling 112 apartments. The company also acquired the Clos des Colombes domain from 23 August – Olimp, one of the most famous vineyards on the Romanian coast.
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