ACED invests EUR 7m in the construction of 44 houses in Bucharest

Victoria residential complex will be located near the IMGB subway station in southern Bucharest, unfolding over 13,170 square meters and will consist of 44 houses. Some 28 houses of the total will be completed this year, while the rest will be ready in the summer of 2008.

Prices per house fluctuate between 135,000 and 200,000 euros without the VAT, depending on the constructed surface and the land allotted to each house. The company completed another real estate project near Mogosoaia forest, outside the capital.

Price for lands in the south-eastern area of Bucharest are two to five times lower than those in the northern side of the city, spurring the development of real estate projects herein, analysts in the field said in April.