Romanian real estate company Meta Estate Trust said that it has invested 500,000 euro ($583,000) in the first phase of the Lake Home residential complex in the central city of Sibiu. Meta Estate Trust plans to invest in the following phases of the mixed-use project which is being built by local company DMX Construction, it said in a press release.
The Lake Home – Living Xperience will have 494 apartments, an aparthotel with 89 units, three restaurants, a coffee-shop and 29 villas. The project will be developed on a 50,500 sq m land plot, of which 20,000 sq m will be dedicated for green spaces, according to SeeNews.com.
Meta Estate Trust was established earlier this year by a group of entrepreneurs with expertise on the real estate and capital markets. The company has a holding structure and is focused on the large urban residential segment, represented in the first stage by Bucharest, Constanta, Cluj-Napoca, Iasi and Timisoara.
Meta Estate Trust currently has investments in 14 residential projects worth over 8 million euro in cities such as Bucharest, Constanta, Sibiu, Iasi, Brasov and in seaside resorts.
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