The Ghencea Project encompasses the development of medium-class apartments, addressing the mid-level incomes of Bucharest. The configuration of the building(s) will provide either for a single configuration of apartments with an average size of 75m2 (total of 104 apartments) or for a maximum double configuration, comprising single bedroom apartments (bachelor) with a surface of 40—45m2 and two bedroom apartments with a surface of 75m2, (total 138 apartments).

The financial assumptions taken into account comprise a total Project Cost of EUR 9,960,000, a 15/85 split of gross to net surface, a equity requirement of EUR 1,992,000, a financing cost of 7%, the construction cost of EUR 800 m2 and a sale cost at EUR 1,550m2. Utility costs have been estimated at EUR 100,000 and the project’s soft cost at EUR 1,065,000.