Investment of 18 million euros in Odyssea residential project

Real estate developers Caterata Ltd and Profit Building Industries launched, on the market in Romania, Odyssea Residential project, an investment of 18 million euros, reads a press release.
Located in Northern Bucharest, opening to Bucharest-Targoviste (south) road and to Bucharest ring road, close to Baneasa forest, Odyssea Residential covers a built area of 19,475 sq m of a total land area of 24,000 sq m. The project includes six apartment buildings with 5 stores, and a total of 156 apartments of 2, 3 and 4 rooms, 7 of them are penthouses.
The apartments have area between 81 and 261 sq m, and the average price per sq m is of 1,500 euros plus VAT. Odyssea Residential offers 179 parking places. It is planned to be ready in mid 2010. Odyssea Residential addresses the medium-high segment of consumers.
“After we have lived the experience of real estate markets such as those in Poland, Hungary, Serbia and Latvia, Romania has attracted us a lot, due to its high investment potential. We have come here exactly when the competition in the market is between strong developers, who have both the expertise and the financial power to resist in a dynamic market,” said Yigal Solomon, regional manager Caterata Ltd.

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