Zheng Shi International to invest over EUR 200 million in condominiums
22 April 2008
Company Zheng Shi International has informed that they would invest over EUR 200 million into several condominiums in the eastern part of the capital. The company owns Orient Hyperconstruct, a hypermarket for construction and finishing materials. The first residential condominium from Zheng Shi portfolio, Ideea Residence Dobroesti, is under construction in Fundeni, Dobroesti area.
''Ideea Residence Dobroesti is the first investment, we intend to start the construction of a new condominium this autumn, Ideea Residence Fundeni, which will include over 1,000 flats.
Also, the investor, which owns a few thousand hectares of land in the eastern part of the capital, intends to develop a new villa condominium in the east of Bucharest,'' managing partner of the real estate company Cityland, Sebastian Leascu said.
Ideea Residence Dobroesti will include 108 flats in 10 buildings, out of which seven with underground, ground floor, 4 floors and attic and three buildings that will have underground, two floors and attic.
The residential condominium will be developed having foot passenger paths, parking places and green spaces. The construction works started last autumn and they are expected to be completed in December 2008.