Opus Land Development says it will invest approximately €50 million this year in the construction of about 500 new homes in the residential complex Cosmopolis based in the northern part of Bucharest region.
The planned investment of this year is the largest annual one since 2007, when the company started the development of Cosmopolis. The new investment will take the total residential stock of the project to 5,600 homes, which have all been completed following a combined investment of around €400 million.
This year, Opus Land will complete an extension of the strip mall Cosmopolis Plaza that will reach a leasable area of 20,000 sqm. Furthermore, a new wellness club spanning 2,500 sqm will be completed in the project.
“Cosmopolis is not only a suite of blocks but also includes all the facilities and functions specific to a city and we want, and we will further expand their list,” said Ozan Tuncer, CEO Cosmopolis.
Gabriel Voicu, Vice President SVN Romania and Project Manager Cosmopolis, added that the development plans for the residential complex will extend for another decade.
By 2023, Cosmopolis is expected to include over 12,000 homes and some 30,000 inhabitants.
