STC Partners obtain building permit for the Quartier Azuga residential complex

The real estate developer STC Partners obtained in September 2022 the building permit for both phases of the Quartier Azuga residential complex, along with the Green Homes pre-certification, and will start construction works for the first phase this autumn.

Quartier Azuga, located in the Doamna Ghica area from Bucharest, launched the pre-sales for the project this summer, with clients already reserving over 25 percent of the apartments from the first phase. "We are delighted with how well the market appreciates our project and expect that with the start of construction, planned for November this year, our potential customers' interest will continue in an upward trend. The clients who have made reservations are mostly final clients, who purchase to become residents within the residential compound, but investors also show a good interest", says Adi Steiner, Managing Partner, STC Partners.

Quartier Azuga will provide residents with multiple benefits, including high energy efficiency. Green Homes certification and nZEB standard ensure up to 70 percent savings in gas and electricity bill costs, high air quality, low carbon emissions, low common costs, favourable conditions for accessing a bank loan for the acquisition and the prospect of reduced taxation in the future.

"We have been with STC Partners since the early days of planning the project, and the results of the pre-sales campaign confirm that the Quartier Azuga residential compound is a well-positioned project in the market, very well received by the customers. We estimate that the first phase will be sold out during the next year, considering the benefits of the project and the high interest shown by the customers", says Alin Popa, Business Development Director, Residential, Crosspoint Real Estate, the exclusive sales partner of the project.

The development of the first phase will be completed in the first half of 2024, followed by the second phase in parallel, with a deadline for completion of the entire project in early 2025.