Pro Confort Puts EUR 30 Million Into Pipera Homes
The Pro Confort Group has announced that it will invest EUR 30 million establishing a 70,000-sqm residential compound. The new compound will be in north Bucharest, in the Pipera area. “Confort Residence will comprise 235 villas and two apartment buildings with 60 apartments in total. Construction work will be completed during the summer of 2006,” said Ionut Negoita, general manager of the Pro Confort Group.
The project, he adds, was financed from the group’s resources and bank loans. Villas will have usable surfaces from 117 and 275 sqm over a ground floor, one upper level and an attic. Apartment surfaces will range from 57-102 sqm. The complex will also include a mini-market, kindergarten and fitness center, which will all be exclusively open to residents.
Sale prices for villas range from EUR 90,000-227,000, while apartment prices go from EUR 44,000 to 68,000. According to the development manager of Pro Confort, Calin Anghelus, the apartments are sold out, while 40 percent of the villas are still available. Next year the company plans to start another residential project in the same area. The group’s general manager says the construction work will begin in the second quarter of next year.
Pro Confort Group includes Pro Hotels and Pro Confort, which handle activities in the hotel, construction and window frame businesses. The company operates two hotels in Bucharest, one in the downtown area and the other in Otopeni. Management estimates a turnover of some EUR 20 million for 2005, compared to some EUR 15 million last year.