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With numerous acquisitions and joint ventures currently underway, we expect to offer more than 300 new apartments of various sizes by the third quarter of 2008. The Heights Group places strong emphasis on studio and small to medium size apartments, ideal for foreign investors, foreign residents and first-time buyers
Projects
· Foisorului 20A.
Located in Sector 3 near Splaiul Unirii, the land, 170 m2, for this project was purchased on 10/16/07 by S.C. Splaiul Unirii Imobiliare The following building rights were approved through PUD, Romanian planning and zoning authorities: 1000 m2 with a height regime of S+P+6E+7R, which equals a basement, ground floor, 6 upper levels and a retracted 7th level.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Maior Racoteanu 8.
Near Unirii Bl at Zepter Junction in Sector 3, the property for this project (166 m2) was purchased on 11/13/07 by S.C. Unirii Heights S.R.L. The following building rights were approved through PUD, Romanian planning and zoning authorities: 600 m2 with a height regime of S+P+4E, which equals a basement, ground floor and 4 upper levels.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Ion Ciopleanu 8.
This project is located in Sector 3 near Ramnico Serat, Dristor. The land for the project (650 m2) was purchased on 11/14/07 by S.C. Dristor Heights S.R.L.
The following building rights were approved through PUD, Romanian planning and zoning authorities: 5000 m2 with a height regime of 2S+P+9E +10R, which equals a sub-basement, basement, ground floor, 9 upper levels, and a retracted 10th upper level.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Foisorului 129.
Near Splaiul Unirii in Sector 3, the land for this project was purchased on 11/29/07 by Dambovita Heights S.R.L. The following building rights were approved through PUD, Romanian planning and zoning authorities: 4950 m2 with a height regime of 2S+P+14E, which equals a sub-basement, basement, ground floor and 14 upper levels.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Foisorului 145.
This property, 1,380 m2, is located in Sector 3 in the general vicinity of Splaiul Unirii, and was purchased on 3/12/08 by River Heights S.R.L. The building rights proposed for this project are 9000 m2 with a height regime of 2S+P+10E+11R, which equals a sub-basement, basement, ground floor, 10 upper levels and a retracted 11th level.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Int. Fabulistului 10.
The land for this project, 220 m2, is located in Sector 1 in the general vicinity of ASE, and was purchased on 4/11/08 by Fabulistului Heights. S.R.L. Building rights proposed for the project are 500 m2 with a height regime of S+P+4, which equals a basement, ground floor and 4 upper levels.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Ilioara 14B.
The land for this project, 900m2, is located in Sector 3 in the general vicinity of Ramnico Serat, and was purchased on 6/11/08 by Ilioara Heights. S.R.L Approved building rights for this project are: 4000 m2 with a height regime of 2S+P+6, which equal a sub-basement, basement, ground floor and 6 upper levels.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
· Gradinarilor 5.
Lot of land of approx 300 m2 located in sector 3 in the general vicinity of Splaiul Unirii. The land was bought on 6/27/08 by S.C. Gradinarilor Heights SRL. The proposed building rights for this project are 1200 m2 with height regime of S+P+5E.
Currently available for pre-development sales, this apartment complex will feature modern, customized units in a variety of sizes.
Present Market Value
In total, to date we expect development of residential construction of approx 30,000 m2 currently valued some 45,000,000E according to present market conditions.
Professional and business references available upon request
The group is continuing to acquire, improve and develop real estate in the Bucharest Metropolitan area.
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