© Prime Kapital — 2024

Record sales in newly launched Phase 3 in Silk District, Iasi

Record sales in newly launched Phase 3 in Silk District, Iasi
April 18, 2024

Prime Kapital, a leading investor, developer, and real estate operator, recently launched sales for Phase 3 in Silk District Iasi and managed to sell 80% of the released stock in phase 3 within the first month.
Silk District is an impressive mixed-use urban regeneration project on a 10-ha land plot in Iasi, already in an advanced construction stage, with 3 completed large phases. The development, a modern integrated 15-minute neighborhood in Romania’s second largest city, is set to form a new and well places residential and business node in the city.

“We are very pleased that our projects continue to be recognised for their quality, spacious layouts, and abundant natural light, not only Bucharest at Marmura Residence and Avalon Estate, but also in Iasi and Ploiesti. Silk District has seen our first residential buildings delivered outside the capital; it’s only fitting to be in Romania’s second largest city, and now we marked our presence in yet another city, with an impressive project in Ploiesti. Our car-free green areas and well-designed parking infrastructure are some of the key considerations, and clients appreciate it in addition to our ongoing commitment to maintenance and property management in completed projects”, said Maggie Kitshoff, Partner Prime Kapital.

The initial two residential phases at Silk District have also witnessed exceptional progress, with more than 90% of the 661 apartments in the first two phases sold, whilst the first residents in Phase 1 have already started to move in. Phase 1 was completed in Q 4 2023 and construction at Phase 2 is nearing completion, with deliveries to clients planned to start by the end of the month. Silk District is expected to be home to nearly 1 000 residents by the end of 2024 alongside the office tenants of the recently completed Class A building, carefully selected retail, and service providers.

Prospective clients can choose between apartments that benefit from a large balcony, loggia, or private garden in addition to 2.75 cm floor to ceiling clear interior heights and large floor to beam window openings. The structural design mostly allows spaces to be open and clean, and free of unwanted columns.

Buyers also have exclusive access to additional services, exclusive to the Prime Kapital offering such as an in-house credit broker, or discounts through the Club VIP membership card exclusive to our buyers. In addition, the buyers can secure a unit with a low deposit threshold, however buyers benefit from larger optional deposits, in line with our policy to attract primary residence seekers, our aim is to continue to establish residential communities with long term interests.

Silk District integrates multiple buildings optimised for various functionalities, encompassing Class-A offices and high-quality modern residential buildings, that offers in addition to everything else, the most beautifully designed modern buildings in the city. The development aspires to become a vibrant 24/7 neighborhood, with the possibility to connect easily to any part of the greater city, right in front on the development due to exceptional public infrastructure.

“The real advantage which is the most difficult to convey is the external areas and the positive effect it will have on the community, and this is probably the most unique feature of our residential brand alongside our ‘car-free’ areas.
Projects progress

The first phase of Silk District Office was delivered in 2023. The Class-A office buildings are designed to cater to a wide range of businesses, including large multinationals and local businesses. Sustainability has been a priority, when the buildings was designed, and materials chosen. Alongside residential buildings built to nZEB standards, Phase 1 Office was recognised for meeting BREEAM Outstanding standards, achieving the highest score awarded in 2023 for office buildings across the country.
For Avalon Estate, the extended Phase I is complete with over 352 units delivered, alongside storage spaces, parking infrastructure and uniquely places common buildings.

Sales for the next development phase is planned to start by the end of Spring.

Prime Kapital, completed over 1600 units comprising villas, apartments and townhouses in over 4 cities, since it announced entry into the residential market in 2017, in 4 unique projects, in 4 cities in Romania, keeping their promise of building affordable quality homes.

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