The new building sums up an investment of 22 million euro out of 160 million euro for the entire project
SPEEDWELL, one of the most active real estate developers on the Romanian market, received the construction permit for the third building of THE IVY, the premium residential ensemble located in the Băneasa neighborhood, in Bucharest. The new building is part of the second phase of development and represents an investment of 22 million euro, out of the 160 million value of the entire ensemble. The construction works for the new building have started, while sales have already reached 42%.
Located in the northern part of Bucharest, on Jandarmeriei street, next to the Baneasa Forest, on a plot of land comprising five hectares, THE IVY project includes a layout of 10 separate buildings with different heights not exceeding 7+ levels to ensure light in the abundant green spaces between the buildings. The 10 buildings feature a total number of 800 residential units, that span from studios to two, three, and four-room apartments and penthouses.
SPEEDWELL has finalized the works for the first two buildings, which comprise 228 units. The first building is sold out and in the second building, only a few apartments are still available for sale. The developer has kicked off the works for the third building from the ensemble which will consist of 128 units, that range from 54 sqm to 121,6 sqm, 42% being already sold.
“THE IVY is a premium development, representing a lively and contemporary community living in a green, calm and spacious district, situated in a beautiful location, neighboring Baneasa Forest, while still being well-connected to the essential facilities and important points of interest, such as schools, hospital, a major mall, a zoo, and the airport. Closely linked to MIRO, our office project, THE IVY is destined for individuals and families alike looking for a smooth transition from work to home and vice-versa.”, said Didier Balcaen, CEO and Co-Founder of SPEEDWELL.
“The development of the third THE IVY building represents an exciting milestone for SPEEDWELL. As we continue to shape this remarkable project, we are also witnessing the growing community that is forming here, with residents having already moved or preparing to do it for the first two buildings. Furthermore, we are thrilled to see the continuous advancement in sales for the third building.”, expressed Jan Demeyere, Architect and Co-Founder of SPEEDWELL.
SPEEDWELL has designed THE IVY to fulfil optimal sustainability requirements, in line with its ESG strategy. Therefore, as with the majority of the company’s developments, THE IVY has received the Green Homes certification from Romania Green Building Council and is also certified with BREEAM Excellent, a reference assessment method, underlining the company’s care for its current and future residents.
SPEEDWELL has a large portfolio of developments in Romania that includes RECORD PARK in Cluj-Napoca, TRIAMA Residence, The IVY, MIRO, THE MEADOWS, CITYZEN, and SPACEPLUS in Bucharest, GLENWOOD Estate in Corbeanca, PALTIM in Timisoara, and RIVERSIDE City in Ramnicu-Valcea.
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