Hercesa Romania announces the start of construction works on the second building of the Stellaris Residencias project, developed next to the Steaua stadium in Bucharest, and the start of sales of the 125 apartments in this phase on April 26, 2024.

“We started construction works on the second building in Stellaris Residencias two months earlier than initially scheduled, following our success with the first building, which is currently 80% sold, almost 90% of the buyers being end-users,” said Romeo Ghica, Operations Manager at Hercesa Romania. “Most of the demand still comes for two-room apartments, the only ones in our mix that fall within the 9% VAT ceiling. In the case of the first building of Stellaris Residencias, the two-room apartments were chosen 60% by end-users, while 40% were purchased as an investment. Regarding the sales results we registered so far, one of the success factors is the excellent progress of works on road and public transport infrastructure in the area, an example of a successful partnership between the private environment and local authorities,” added Romeo Ghica.

Located in an area with easy access to public transport (tram 41, Drumul Taberei Park subway), parks, educational units and shopping centers, the residential buildings in Stellaris Residencias will benefit from facilities such as 3,000 square meters of green spaces each, basketball courts, relaxation areas and playgrounds for children, all destined exclusively to residents. In addition, the project includes the construction of road and educational infrastructure: 2.7 kilometers of streets, a kindergarten and a school for grades I to VIII.

Stellaris Residencias is the second large-scale residential project developed by Hercesa Romania in Bucharest after Vivenda Residencias and will comprise a total of 4,500 apartments. The first phase of Stellaris Residencias involves an investment worth 59 million euros, will be built in four stages and will comprise 482 apartments. The first residential building in Stellaris Residencias, with a total of 129 apartments, is due for completion by the end of 2024. The works started in July 2023 and reached the top floor’s structural frame, finishes and installations in the lower levels, with an overall progress of 70%, according to the schedule. Work on the second building, which is due to be completed by the end of 2025, is currently in the excavation phase.

Hercesa has been present on the Romanian market since 2004 and has since delivered 1,000 apartments in the Vivenda Residencias project in the Titan area of Bucharest. In 2012, Hercesa Romania reopened the Cișmigiu Hotel, which is still in the company’s portfolio.

Hercesa Romania currently has 1,000 apartments under construction and in preparation in the Stellaris Residencias and Vivenda Residencias projects. Apart from the first two buildings in Stellaris Residencias, Hercesa Romania is building block L in Vivenda Residencias, a concept with only two apartments per floor, located next to the Lidl supermarket. Block L is scheduled for completion in September 2024 and comprises 80 apartments with 3 and 4 rooms, with total usable areas ranging from 82 sqm to 115 sqm.

This year, the company will start construction works on Block D, the first stage of the last phase of Vivenda Residencias, which involves an investment of more than €9 million, has a completion date in September 2025 and will comprise 73 apartments out of a total of almost 400 units to be developed in this phase of the project.

In 50 years of experience in the real estate sector, Hercesa has developed and delivered over 28,000 homes in residential projects located throughout Spain. Since 2004, the company has been transferring the business model developed in Spain, adapting it to the reality of each country: Romania, Portugal, Bulgaria, Czech Republic, Morocco, Panama, Ecuador and Mexico.

Hercesa manages 800,000 square meters of land in industrial areas and, at the same time, develops and builds hotels, shopping centers, industrial areas, office buildings and senior centers. In addition, Hercesa owns residential rental buildings, tourist apartments and commercial premises.

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