Businessman Giorgică Baicu, who has developed apartments under the Corvaris and Venus brands, is starting work on his new residential project in Bucharest, with 420 apartments and a 4-star hotel behind the Berceni Arena ice rink, near the Apărătorii Patriei metro station.
A company owned by Giorgica Baicu has bought from the construction company Conexir Roell, owned by a group of Greek investors, a 1.4 ha plot of land, which had previously been promised for sale to the German retailer Lidl, but without a final deal.
On this land, Giorgică Baicu is now starting the construction of a residential project, which will include 5 blocks of 420 apartments and a 4-star hotel with 100-110 rooms, swimming pool, SPA and conference rooms. The buildings are structured on two basements, ground floor, mezzanine and 6 floors. The complex will have 592 parking spaces on the ground floor and in the basement. The project will be called Venus Arena.
The ground floor and mezzanine will be developed commercial and office spaces with a total area of about 6,500 square meters.
Most of the apartments in the complex, 144 to be exact, will be two-bedroom apartments, and the selling price has been set at 2.000 EUR/sqm, above the average price in the area.
The investment in this project will be around €30 million.
Giorgică Baicu is not for the first time investing in hotels. He also owns the 26-room, three-star Corvaris hotel on Olteniței Road. The Venus Arena project is located behind the new Berceni Arena skating rink, inaugurated last summer following a EUR 10 million investment backed by the local budget of the Sector 4 City Hall and the state budget. Next to Venus Arena, in the Apărătorii Patriei area, the City Hall is now building a new 860 m long overpass, which follows the Europa Unită overpass.