STC Partners delivers the entire Quartier Azuga project

The real estate developer STC Partners is delivering the Quartier Azuga project, a residential complex that has been sold at a rate of nearly 90%.

The second phase of the project has already received the completion certificate and is currently in the process of delivering residential units, while the first-phase community moved into their new homes at the end of 2024. The development and construction of the Quartier Azuga project began at the end of 2022, with approximately 10% of the total 236 new apartments still available.

“We are in the process of fully delivering our Quartier Azuga residential complex and are very proud of how the entire project has turned out. Although we experienced delays compared to the initial delivery timeline, both our plans and those of our clients were adapted along the way, in the context of the additional floor authorization process, which caused several months of delay, as well as unfavorable weather conditions during autumn and winter,” stated Roxana Steiner, Partner & COO of STC Partners.

The Quartier Azuga residential community is primarily made up of end-users, with investment buyers accounting for less than 5%. The new community includes young families working in corporations, professionals in liberal fields, entrepreneurs, IT specialists, real estate professionals, and medical practitioners.

“This new community, together with the delivery of the Quartier Azuga project, brings significant added value to the Dna Ghica-Colentina-Tei area. We are very pleased to have contributed to this through the development of a sustainable and durable project, whose initial estimated investment exceeded €20 million by more than €5 million,” stated Adi Steiner, Partner & CEO of STC Partners.

Upon full delivery of the second phase, the developer will also repay the bank financing obtained from Banca Transilvania, amounting to €10 million, which supported the development of this final phase of the Quartier Azuga project. STC Partners is also currently developing Quartier Ferdinand, a residential complex with 170 units, more than 50% of which have already been sold, representing an investment of over €35 million. In addition, the company is in the final documentation phase for Quartier Pipera, a project comprising more than 500 new homes, with an estimated investment exceeding €65 million, and construction expected to begin in Q4 of this year. The company remains committed to setting new standards in the residential sector by combining modern living solutions with environmental responsibility. *This is a press release.