KÉSZ Group Secures EUR 30 Million Financing for Corallis Apartments in Bucharest
KÉSZ Group has secured EUR 30 million in financing from Raiffeisen Bank Romania for Corallis Apartments, its first own residential development in Bucharest, Romania. The funding will support the project's continued development and strengthen its financial structure alongside the group's investment and customer prepayments.
Located in the Petrom City area of Bucharest's District 1, Corallis Apartments is being developed on a 15,500 sqm site along the shore of Lake Grivița. The residential project comprises five low-rise buildings with a total of 221 apartments.
The development will include more than 6,000 sqm of landscaped green spaces, alongside a lakeside promenade and dedicated sports and leisure facilities. These features form part of the project's residential planning, with an emphasis on outdoor spaces and amenities for residents.
Financing supports Corallis Apartments development
Raiffeisen Bank Romania's EUR 30 million loan provides an additional financial source for the project on top of KÉSZ Group's investments and prepayments made by clients.
According to KÉSZ Group's project manager Tatár Zsolt, the financing represents a valuable addition to the resources allocated to the project. Additionally, he emphasized the efforts devoted to quality construction, creation of green areas, and welfare of residents.
Corallis Apartments intends to obtain BREEAM Excellent certification, indicating its intention to minimize negative environmental impact.
KÉSZ Group expands its residential presence in Romania
The project is being developed by KÉSZ Properties, with KÉSZ România appointed as the general contractor. It represents a strategic step in the group's expansion within Romania's residential property market.
KÉSZ Group has operated in Romania since 2001 and brings more than four decades of construction experience across Central and Eastern Europe. Its real estate portfolio covers nearly 250,000 sqm across five countries.
The financing marks an important step in advancing Corallis Apartments, combining bank funding, developer investment and customer prepayments to support the delivery of the Bucharest residential project.
