PHOTO The Canadian Topolinski family is starting investments of over 170 million euros in the north of Bucharest

InteRo Property Development, a company owned by the Canadian family of investors Topolinski, received the construction permit for the luxury residential project Smart Home, Pajurei 3 Residence, Bucharest, with work to start in the coming weeks. The developer also expects to receive in the coming months the building permit for SunLight Residence, an nZEB residential project that promises investors attractive rental yields.

In parallel, InteRo Property Development will soon complete the acquisition of a 4.5-hectare plot of land in the Otopeni area, which also has a PUZ. MoonLight Meadows, a large-scale residential project with over 400 apartments, will be developed here in the coming years, the value of the investment being estimated at over 80 million euros.

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The three projects represent a total investment of over 170 million euros in the northern area of ​​the Capital.

“It’s a good time for construction, because costs are more controlled and real estate remains a solid investment in a maturing market like Romania. In difficult times, quality projects gain ground.

Buyers have a much more pragmatic approach to their long-term investments, looking for the best purchase value. Our investor base has steadily expanded, with capital flows from around the world. We have already sold approximately 20% of the housing units provided in Pajurei 3 Residence (30 apartments) and approximately a quarter of those in SunLight Residence (48 apartments). Investor interest is high and we are confident that our sales team will be very busy throughout the year,” says Michael Topolinski III, Founder of InteRo Property Development.

With an estimated investment value of 65 million euros, Pajurei 3 Residence is the first luxury project in Pajura, New Bucharest.

The complex will comprise 160 residential units, including 3 and 4 bedroom penthouses, private roof garden, plus communal facilities.

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With an estimated investment of 25 million euros, SunLight Residence will be a complex dedicated to the middle class.

SunLight Residence will have 5 blocks with 180 spacious apartments (2, 3 and 4 rooms with apartment gardens of over 100 sqm).

The project has PUZ and will obtain the construction permit in the coming months.

Founded by the Topolinski family of investors (father Michael and his three children – Michael, Tyler and Ashton), InteRo Property Development has been present in Romania for 15 years.

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Reference transactions include the 21 million euro purchase in 2012, which targeted a 78,000 sq m plot of land in the Progresului area, where the Vulcan Value Center is today, as well as the largest transaction in 2019, when InteRo sold half of the former platform Textila Dacia to Skanska Property Romania for 23 million euros, for the development of an office project.