Investment of 80 million euros in The Lake Home residential complex in Sibiu
The developer Novarion SA launched this month the first building, a block of flats with 42 apartments, from The Lake Home project, located on the shores of Binder Lake in Sibiu. The project has attracted around € 3 million through two rounds of financing from the Meta Estate investment fund, and is based on innovative concepts, including cryptocurrency payments through Utrust.
When fully completed, the neighborhood will include 494 apartments in nine blocks and 29 villas, an aparthotel, three restaurants, a gym with spa and pool, kindergarten and after-school. So far, 30 units have been sold in the first building, of which 10 are in the design stage and 20 during construction, according to the developer.
“The total investment is about 80 million euros, and in order to ensure the smooth running of this real estate project, we have accessed multiple sources of financing. Among other things, we paved the way for the capital market by attracting two rounds of financing, of 500,000 euros, respectively 2.5 million euros from the Meta Estate investment fund, project finance bank financing, as well as participatory financing. crowdfunding “, explains for Forbes Raul Țărnaru, founder and CEO of Novarion.
The ensemble is located in the western part of the city, very close to the location of the future regional hospital, benefiting from direct access to the A1 motorway and fast road connections with the airport, but also with the economic center of Sibiu. In addition, the project is being built on the shores of the only lake inside the city, an area recently redeveloped by Sibiu City Hall.
In the case of the apartments, the surfaces have between 48 sqm and 215 sqm built, the larger spaces being found in the duplex type penthouses. In the case of villas, the surfaces have between 230 sqm and 380 sqm built, each house being individually designed and offering underground garages a communication corridor. Prices start from 1,260 euro / sqm built.
A novelty of the project is the possibility of payment with cryptocurrencies, through the Utrust platform. The developer says that he has already completed the first real estate transactions through this payment system.
“I have wanted, for a very long time, to contribute to the real estate landscape in Sibiu with a completely innovative, original and avant-garde project. The Lake Home residential complex is the only neighborhood in Sibiu located right on the shores of a lake, which offers multiple possibilities for recreation and sports activities, with facilities for wakeboarding, water skiing, kayaking and, of course, beach and places floating playground or on the sand “, points out Raul Țărnaru.
At the same time, the residential area will be managed by the developer, including security and sanitation services, and after the actual completion of the works, for a minimum of 25 years. The properties will benefit, among other things, from smart mailboxes, and each apartment can be handed over with a control center for several in-house systems such as heating or ventilation.
Novarion SA was founded at the end of last year, and in addition to The Lake Home, it plans to develop a hotel located very close to the historic center of Sibiu. At the moment, The River Hotel is in its infancy and is awaiting the necessary building permits. The project will include an aparthotel, a medical clinic and office space.
Sibiu is one of the most popular tourist centers in the country, and has recently attracted both real estate investors and clients interested in second-homes or holiday apartments. The city offers, in addition to the proximity of the mountains, many tourist attractions and an effervescent cultural life.
“Among the most important factors that were the basis of the decision of many businessmen to invest in Sibiu are the professional skills of college graduates, the appropriate geographical position of the city, the connection offered by the airport and highway, tourism potential and, per totally, the quality of life “, explains Raul Țărnaru.
There are currently about 30 residential projects underway in Sibiu, and it is estimated that around 400 housing units will be delivered by the end of this year.
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