Hercesa Romania has sold 80% of the apartments of the first phase of Stellaris Residencias and is starting the construction of the second phase

April 24, 2024, 8:12AM GMT+0200

The developer Hercesa Romania has started construction on the second building of the Stellaris Residencias project, which will include 125 apartments. The project is being developed near the Steaua stadium in Bucharest, and 80% of the apartments of the first stage have been sold.

“We started construction work on the second building of Stellaris Residencias two months earlier than originally scheduled, following the success of the first building, which is currently 80% sold, almost 90% of buyers being end users”, said Romeo Ghica, operations manager at Hercesa Romania.

He stated that most of the demand is still represented by two-room apartments, “the only ones in our mix that fall under the 9% VAT cap”.

The project also includes the construction of road and educational infrastructure: 2.7 kilometers of streets, a kindergarten and a school with classes I-VIII.

Stellaris Residencias is the second major residential project developed by Hercesa Romania in Bucharest after Vivenda Residencias and will include a total of 4,500 apartments.

The first phase of Stellaris Residencias involves an investment of 59 million euros, will be built in four stages and will include 482 apartments. The first residential building of Stellaris Residencias, with a total of 129 apartments, has a completion date of late 2024. Work on the second building, which has a completion date of late 2025, is currently in the foundation excavation phase.

Hercesa has been present on the Romanian market since 2004 and has since delivered 1,000 apartments in the Vivenda Residencias project in the Titan area of ​​Bucharest. In 2012, Hercesa Romania reopened the Cișmigiu Hotel, located in the company’s portfolio.

The developer currently has 1,000 apartments under construction and in the pipeline in the Stellaris Residencias and Vivenda Residencias projects.

Apart from the first two buildings in Stellaris Residencias, Hercesa Romania is building a block with 80 apartments in Vivenda Residencias.

Also this year, the company will start construction work on Block D, the first stage of the last phase of Vivenda Residencias, which involves an investment of over 9 million euros, has a completion date of September 2025 and will include 73 apartments out of the total of almost 400 units that will be developed in this stage of the project.

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