Park Properties sells out first two buildings at SunLake Residence in Bucharest

Park Properties, the developer of SunLake Residence, located on the shores of Lake Fundeni in Bucharest has successfully finalized the sale of all apartments in the first two 12-storey buildings of the residential complex and is preparing to start construction of the third phase, an 18-storey building.

The position-finishes-price ratio has enabled the developer to pre-sale all the apartments in phases 1 and 2 of the real estate project and to collect advance payments of more than EUR 10 million during the construction phase.

"Thanks to its location in a unique area delivered at an affordable price, right next to the Fundeni Lake, the SunLake Residence complex has managed to maintain a steady sales pace even during the current period of increased interest rates on mortgage loans. We have been surprised by the very high demand for two and three-bedroom apartments and the very strong desire of Bucharest's residents to upgrade from communist era apartments to apartments in new developments. At the moment, SunLake Residence is undoubtedly the best alternative for the residents in the area, not only in terms of the finishes offered, but also due to the common facilities in the complex," Alexandru Mănăilă, shareholder and managing partner of SunLake Residence stated.

SunLake Residence consists of two 12-storey buildings and one 18-storey building with a total of 308 apartments, over 350 parking spaces, a private park and lakeside promenade. The market value of the residential complex exceeds EUR 40 million and covers an area of over 40,000 sqm.

“Building A is now fully completed and building B is 95 percent finalized. We are currently working on the last finishings in building B, the exterior landscaping, the installation of photovoltaic and solar panels at the fire safety components in the compound. We were extremely surprised by the sale of all apartments in the first two 12-storey buildings (building A and B) and will now focus our attention on the sale of the duplex penthouses in block B and later on selling the apartments in building C,” Alexandru Mănăilă added.