HILS Development is building a residential complex in the Republica area

HILS Development, the real estate development company owned by Ionuț Negoiță, the brother of the mayor of Sector 3 of the capital, has started a residential project in the Republica area, on the site of the former Faur-Republica industrial platform, where it is building a residential complex with 5,000 homes.

The investment amounts to almost EUR 500 million and will last for ten years. A two-bedroom apartment will cost around EUR 75,000-80,000.

"The residential market has changed quite a lot since 18 years ago, when I started my real estate business. We've reached a point where the market is demanding more and more things. We've gotten to where we wanted to be and that is to develop a large-scale project. Today we are announcing the launch of an urban regeneration project in the Republica area. It covers 18 hectares of land 600 metres from the Republica metro station. It is very important for a residential project to be close to a metro station," said Ionuț Negoiță, CEO and founder of HILS Development.