British investor Ghai Sant Ram acquires plot near Bucharest for new residential project

British investor Ghai Sant Ram announced the purchase of a plot of approximately 30,000 square meters from fiery Romanian businessman and football club owner George Becali on Tuesday, July 28.

The purchase price was approximately EUR 14.3 million, and the land was acquired together with the building permit for a large-scale real estate development. The transaction was brokered by CGA Home Consulting through Cătălin Apetri (right), the company’s CEO and founder, who also serves as Romania Development Director for Ghai Family Holding and Ghai Sant Ram.

The plot located near Pipera Plaza, northern Bucharest, was acquired via Ghai Family Holding. The investor intends to develop a residential project comprising approximately 650 apartments on the newly acquired land.

“The Pipera area, where the newly acquired plot is located, has genuine residential demand, driven both by northern Bucharest’s business hub and by rapid access to infrastructure, services, schools and shopping centers. The area’s long-term potential underpins our decision to invest here in a new residential development comprising 650 apartments,” said Cătălin Apetri, CEO and founder of CGA Home Consulting and Romania Development Director for Ghai Family Holding.

Ghai Sant Ram has more than two decades of experience in residential development across the United Kingdom and Romania. The British investor previously developed Ivory Residence and Horizon City in Romania.

Details of the new development’s exact configuration, apartment mix, number of parking spaces, amenities, total investment value and construction timetable will be announced once the technical stages have been completed.

The plot's “location provides easy access both to central Bucharest and to Voluntari, Tunari, DN1, the Bucharest Ring Road and the A3 motorway. Proximity to Tei Park and Herăstrău Park is another major advantage, while the location is also relevant for families working in northern Bucharest,” said Cristian Stanciu (left), CEO of the Ivory Residence and Horizon City residential projects. 

With the 650 new apartments planned on the plot, Ghai Sant Ram’s residential portfolio in Romania will exceed 2,500 units overall.

radu@romania-insider.com

(Photo source: press release) ...