On October 20, 2021, retail developer NEPI Rockcastle announced that it was branching into the residential segment by starting works on the Vulcan Residence, its first housing project in Bucharest.
The apartment complex, which requires an investment of around EUR 22 million, will be finalized in the third quarter of 2023, and include 256 apartments (single and double studios, apartments with 2, 3, and 4 rooms, as well as penthouse units on two levels).
“The first NEPI Residential project means a solid, long-term own investment and reflects the group’s confidence in the versatility and attractiveness of mixed projects – retail, office, residential,” said NEPI Residential Head Iulian Rusu.